Seattle, WA Entrepreneur Gets SBA Loan to Buy Chevron gas Station Franchise

Borrowing money to invest in a Chevron gas Station franchise? Innovative Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Seattle, Washington needed money to invest in a Chevron gas Station franchise back in 2007. Innovative Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

SCHREINER AND KWON INC.
SEATTLE, WA 98125

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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

1/9/2007

Loan Approval Gross Amount

$1,155,000

Loan Approval from the SBA

Of the total $1,155,000 loan amount, the SBA guaranteed $866,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chevron gas Station franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,155,000 loan. Remember, anyone can do it... so why not you?

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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