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May 2, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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We Needed a Small Business Loan in Renton, Washington and We Got One!
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Getting an SBA Loan for Gasoline Stations with Convenience StoresWith these business loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $1,195,000 was given to a Washington entrepreneur in 2005. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Wilshire State Bank, out of Los Angeles, California. The loan was granted and they received $1,195,000 to help grow their Renton, Washington business. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender WILSHIRE STATE BANK 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 4/18/2005 Loan Approval Gross Amount $1,195,000 Loan Approval from the SBA Of the total $1,195,000 loan amount, the SBA guaranteed $896,250. 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 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilshire State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Los Angeles, California
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