Washington Entrepreneur Secures Financing to Buy Arco gas Station Franchise

Need money to invest in an Arco gas Station franchise? Borrego Springs Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Puyallup, Washington needed money to invest in an Arco gas Station franchise back in 2001. Borrego Springs Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

ARCO STORE #5877 MERIDIAN
PUYALLUP, WA 98371

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

7/20/2001

Loan Approval Gross Amount

$519,000

Loan Approval from the SBA

Of the total $519,000 loan amount, the SBA guaranteed $389,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Borrego Springs Bank and they will explain how you can get an SBA loan for your company.

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Borrego Springs, California

SBA Lenders in California