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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Bank Of The West Small Business
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Decatur, Georgia Business Gets SBA-Guaranteed Funding from Bank Of The WestAn SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Decatur, Georgia business owner got a $256,000 loan. This growing company knew how to go about getting a business bank loan. Based in Decatur, Georgia, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Bank Of The West, based in Truckee, California. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender BANK OF THE WEST This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 4/6/2001 Loan Approval Gross Amount $256,000 Loan Approval from the SBA Of the total $256,000 loan amount, the SBA guaranteed $192,000. 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 17 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 17 existing jobs. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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. Related Links: SBA 7A Banks for Truckee, California Loans Getting an SBA Loan in California
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