Community Bank Provides SBA Loan to Buy Texaco Service Station Franchise

Need a loan to buy a Texaco Service Station franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Texaco Service Station franchise? If so, here's a 2001 SBA franchise loan that you should know about. Community Bank was the lender and the entrepreneur was based in Orange, California.

SBA Loan Borrower

HARBOR FAIR TEXACO
ORANGE, CA 92626

SBA Loan Lender

COMMUNITY BANK
790 E COLORADO BLVD
PASADENA, CA 91101

This bank loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/16/2001

Loan Approval Gross Amount

$957,700

Loan Approval from the SBA

Of the total $957,700 loan amount, the SBA guaranteed $718,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Texaco Service Station franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Texaco Service Station

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Pasadena, California

SBA Lenders in California