Main Street Registry

VMS Petroleum Inc

Snohomish, WA · Gasoline Stations with Convenience Stores · NAICS 457110

VMS Petroleum Inc, located in Snohomish, WA, operates in the gasoline stations with convenience stores industry (NAICS 457110). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $5 million, approved on November 20, 2024 through the lender Readycap Lending, LLC.

SBA 7(a) loan, change of ownership, approved Nov 20, 2024

Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Readycap Lending, LLC, Berkeley Heights, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
November 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$43,685 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Snohomish County, WA
SBA district office
Seattle District Office
Congressional district
WA-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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 Washington