Damascus Gas and Carwash
Damascus Gas and Carwash is an Oregon business in Damascus, OR, in the Other Gasoline Stations industry. It was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $5 million approved on June 20, 2024, through Open Bank.
SBA 7(a) loan, change of ownership, approved Jun 20, 2024
$5,000,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Open Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- June 20, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $44,557 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457120, Other Gasoline Stations
- Franchise
- California Fuel Supply, Inc (Phillips 66 Company Brand) Brand Retailer Agreement
- Project location
- Clackamas County, OR
- SBA district office
- Portland District Office
- Congressional district
- OR-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Other Gasoline Stations: $3,851,280.
- Average acquisition loan in Oregon: $1,946,167.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Oregon
- Interstate Petroleum LLC, Portland