California Entrepreneur Secures Financing to Buy Arco gas Station Franchise

Need a loan to invest in an Arco gas Station franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Arco gas Station franchise loans are available to Riverside, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in New York City, New York, issued an SBA franchise loan for an Arco gas Station franchise in 2001. We've got all the details on this California small business loan.

SBA Loan Borrower

SPEEDY ARCO GAS & OIL
RIVERSIDE, CA 92505

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This commercial 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.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/27/2001

Loan Approval Gross Amount

$1,254,000

Loan Approval from the SBA

Of the total $1,254,000 loan amount, the SBA guaranteed $940,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Riverside CA, you ought to talk with a local Riverside SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Riverside businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - Getting Venture Capital

SBA 7A Banks in New York City, New York

SBA New York Lenders