Community St. Bank Provides SBA Loan to Buy Shell Service Station Franchise

Borrowing money to buy a Shell Service Station franchise? Community St. Bank has a history of making these loans and they are guaranteed by the SBA.

Shell Service Station franchise loans are available to Altoona, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community St. Bank, based in Altoona, Iowa, issued an SBA franchise loan for a Shell Service Station franchise in 2003. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

SHELL STATION
ALTOONA, IA 50009

SBA Loan Lender

COMMUNITY ST. BANK
200 8TH ST SE
ALTOONA, IA 50009

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$121,500

Loan Approval from the SBA

Of the total $121,500 loan amount, the SBA guaranteed $103,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Shell Service Station franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Raising Venture Capital

Where to Get an SBA Loan in Altoona, Iowa

SBA Lenders in Iowa