California Entrepreneur Secures Financing to Buy Arco gas Station Franchise

Borrowing money to invest in an Arco gas Station franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Arco gas Station franchise loans are available to Walnut, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in New York City, New York, issued an SBA franchise loan for an Arco gas Station franchise in 2001. We've got all the details on this California small business loan.

SBA Loan Borrower

ARCO AM PM
WALNUT, CA 91789

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

11/28/2001

Loan Approval Gross Amount

$1,388,800

Loan Approval from the SBA

Of the total $1,388,800 loan amount, the SBA guaranteed $999,936.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.

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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