SBA Loan from American Enterprise Bank Helps Gasoline Stations With Convenience Stores Company

An SBA loan from American Enterprise Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Beloit, Wisconsin business owner got a $1,021,900 loan.

Getting a small business loan in Beloit, Wisconsin was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from American Enterprise Bank, operating out of Buffalo Grove, Illinois. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
BELOIT, WI 53511

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/4/2007

Loan Approval Gross Amount

$1,021,900

Loan Approval from the SBA

Of the total $1,021,900 loan amount, the SBA guaranteed $766,425.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Cash Advances

Where to Get an SBA Loan in Buffalo Grove, Illinois

Illinois SBA Banks