SBA Loan from American National Bank Helps Grocery Stores Company

American National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wyoming entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Centennial, Wyoming, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was American National Bank, based in Laramie, Wyoming.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CENTENNIAL, WY 82055

SBA Loan Lender

AMERICAN NATIONAL BANK
3908 GRAND AVE
LARAMIE, WY 82070

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

2/14/2006

Loan Approval Gross Amount

$276,000

Loan Approval from the SBA

Of the total $276,000 loan amount, the SBA guaranteed $207,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $276,000 loan. Remember, feel the fear, and do it anyway.

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.

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