Raising Money for Gasoline Stations

With these bank loans for gasoline stations, the SBA guarantees the lender that the loan will be repaid. This gasoline stations loan for $400,000 was given to a Georgia entrepreneur in 2001.

Getting a small business loan in Quitman, Georgia was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Colony Bank Quitman, Fsb, operating out of Quitman, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
QUITMAN, GA 31643

SBA Loan Lender

COLONY BANK QUITMAN, FSB
602 E SCREVEN ST
QUITMAN, GA 31643

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Colony Bank Quitman, Fsb 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:

Obtaining Funding - How to Decide How Much to Raise

Best Banks in Quitman, Georgia

Georgia SBA 7A Lenders