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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Terry's Arco Loan | ||||
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Placentia, California Bank Loan
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Borrow Money to Buy an Arco gas Station FranchiseNeed money to purchase an Arco gas Station franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an Arco gas Station franchise shouldn't be too tough. In 2001, Community Bank issued an SBA franchise loan to an entrepreneur in Placentia, California. Because Arco gas Station was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower TERRY'S ARCO SBA Loan Lender COMMUNITY BANK This bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 11/5/2001 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 an existing business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Realistic Debt Financing Options Good Banks for Small Business in Pasadena, California
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