gas-station-sba-loan

SBA loan for a Gas Station in High Desert Area, Minority Owned and operated

Posted on: January 3rd, 2016

Loan Scenario

  • An experienced minority business owner wanted to purchase a gas station/grocery store.
  • The purchase consisted of both real estate and business, with a large portion of the purchase consisting of Upgrades

Our Solution

  • A local referral partner referred the deal to CRF who found a business with a strong management team and strong historical cash flow.
  • CCF provided a $2.9 million SBA 7(a) loan to purchase the business, inventory and real estate.

Positive Impact

  • The business retained eight jobs – four held by minority workers – and created one new job in a low-income community.
  • The business is now owned by a minority business team.
  • The business is a combination gas station/grocery store (much larger than a convenience store), servicing the low-income community.

Chase Capital Funding offers SBA 7(a) loans ranging from $50,000 – $4,000,000 for owner occupied real estate and leasehold improvements, business equipment, permanent working capital, and refinancing existing debt.