Loan to Buy Arco gas Station Franchise Issued By Borrego Springs Bank

Need a loan 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.

Getting money to buy an Arco gas Station franchise may simply require a phone call to a local SBA banker. In 2002, Borrego Springs Bank issued an SBA franchise loan to an entrepreneur in Seattle, Washington. Because Arco gas Station was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis.

SBA Loan Borrower

MARGINAL WAY ARCO
SEATTLE, WA 98108

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

1/14/2002

Loan Approval Gross Amount

$828,200

Loan Approval from the SBA

Of the total $828,200 loan amount, the SBA guaranteed $610,748.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Borrego Springs Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Borrego Springs Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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