Financing for Gasoline Stations with Convenience Stores

Looking for commercial loans for gasoline stations with convenience stores? Try the SBA. This $900,000 gasoline stations with convenience stores loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Roy, Washington, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Nara Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
ROY, WA 98580

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/18/2003

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks in Los Angeles, California

Getting a Business Loan in California