Chevy Chase, Maryland Bank Gives SBA Loan to Gasoline Stations With Convenience Stores Company

Get to know Chevy Chase, Maryland banks that specialize in business loans and know how to work with entrepreneurs. Mainstreet Lender 7(a), LLC is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Tucson, Arizona starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Mainstreet Lender 7(a), LLC. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
Tucson, AZ 85704

SBA Loan Lender

MAINSTREET LENDER 7(A), LLC
2 WISCONSIN CIRCLE, 9TH FLOOR
CHEVY CHASE, MD 20815

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

7/30/2007

Loan Approval Gross Amount

$935,000

Loan Approval from the SBA

Of the total $935,000 loan amount, the SBA guaranteed $701,250.

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 6 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.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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