Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

We Needed an SBA Loan in Hopedale, Massachusetts and We Got One!

 

 
Loan Census SBA Loan Info

Financing for Gasoline Stations with Convenience Stores

Looking for commercial loans for gasoline stations with convenience stores? An SBA loan may be just what you've been looking for. This $490,000 gasoline stations with convenience stores loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hopedale, Massachusetts was able to borrow $490,000 from Independence Bank. The SBA made the loan possible by guaranteeing $367,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
HOPEDALE, MA 01747

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

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

11/7/2001

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Hopedale MA, you ought to talk with a local Hopedale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hopedale businesses.

We can help you find the best banks for small businesses in Hopedale or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Line of Credit

Best East Greenwich, Rhode Island Banks for Small Business

Find an SBA Lender in Rhode Island