Community So. Bank D.B.A Commun SBA Loan to Gasoline Stations With Convenience Stores Company

An SBA loan from Community So. Bank D.B.A Commun typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Blacksburg, Virginia business owner got a $882,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Parsons, Tennessee. The loan was granted and they received $882,000 to help grow their Blacksburg, Virginia business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
BLACKSBURG, VA 24060

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/30/2005

Loan Approval Gross Amount

$882,000

Loan Approval from the SBA

Of the total $882,000 loan amount, the SBA guaranteed $661,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Friends and Family

Small Business Banks in Parsons, Tennessee

Tennessee SBA Bank Lenders