Small Business Loans for Gasoline Stations with Convenience Stores

Looking for small business loans for gasoline stations with convenience stores? The SBA may be the answer. This $116,997 gasoline stations with convenience stores loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Summit, Mississippi was able to borrow $116,997 from Pike National Bank. The SBA made the loan possible by guaranteeing $99,447 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
SUMMIT, MS 39666

SBA Loan Lender

PIKE NATIONAL BANK
350 RAWLS DR
MCCOMB, MS 39648

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/24/2002

Loan Approval Gross Amount

$116,997

Loan Approval from the SBA

Of the total $116,997 loan amount, the SBA guaranteed $99,447.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $116,997 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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