Silver Spring, MD Entrepreneur Gets SBA Loan to Buy Amoco gas Station Franchise

Need money to invest in an Amoco gas Station franchise? Sandy Spring Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Amoco gas Station franchise may simply require a phone call to a local SBA banker. In 2005, Sandy Spring Bank issued an SBA franchise loan to an entrepreneur in Silver Spring, Maryland. Because Amoco gas Station was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

GPR HOLDINGS INC
SILVER SPRING, MD 20906

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/31/2005

Loan Approval Gross Amount

$287,500

Loan Approval from the SBA

Of the total $287,500 loan amount, the SBA guaranteed $143,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Amoco gas Station franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $287,500 loan. Remember, where there is a will, there is a way!

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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