Get an SBA Loan for Gasoline Stations with Convenience Stores

With these small business loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $458,500 was given to a Massachusetts entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Springfield, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Home Loan Invest Bank F.S.B., based in Warwick, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
SPRINGFIELD, MA 01109

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

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

4/15/2005

Loan Approval Gross Amount

$458,500

Loan Approval from the SBA

Of the total $458,500 loan amount, the SBA guaranteed $343,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Home Loan Invest Bank F.S.B. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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