Gasoline Stations with Convenience Stores Bank Loans

With these bank loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $1,320,000 was given to a Florida entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Pompano Beach, Florida, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Mainstreet Lender 7(a), LLC, based in Chevy Chase, Maryland.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
Pompano Beach, FL 33064

SBA Loan Lender

MAINSTREET LENDER 7(A), LLC
2 WISCONSIN CIRCLE, 9TH FLOOR
CHEVY CHASE, MD 20815

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/21/2007

Loan Approval Gross Amount

$1,320,000

Loan Approval from the SBA

Of the total $1,320,000 loan amount, the SBA guaranteed $990,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Pompano Beach FL, you ought to talk with a local Pompano Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pompano Beach businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mainstreet Lender 7(a), LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

How Equity Dilution Works

SBA 7A Banks for Chevy Chase, Maryland Loans

Maryland SBA Bank Lenders