Where to Get Capital for Gasoline Stations with Convenience Stores

Looking for small business loans for gasoline stations with convenience stores? Talk to a banker who works with the SBA. This $150,000 gasoline stations with convenience stores loan was issued by a Maryland bank.

Getting a small business loan in Timonium, Maryland was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Patapsco Bank, operating out of Dundalk, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
TIMONIUM, MD 21093

SBA Loan Lender

THE PATAPSCO BANK
1301 MERRITT BLVD
DUNDALK, MD 21222

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

11/9/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Patapsco Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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