Business Loan from Ridgestone Bank Given to Gasoline Stations Company

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

Getting a small business loan in Clinton, Illinois was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Ridgestone Bank, operating out of Brookfield, Wisconsin. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS
CLINTON, IL 62631

SBA Loan Lender

RIDGESTONE BANK
13925 W NORTH AVE
BROOKFIELD, WI 53005

This lender issued this commercial loan under the SBA's 7A loan, 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.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$922,848

Loan Approval from the SBA

Of the total $922,848 loan amount, the SBA guaranteed $692,136.

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 9 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Ridgestone Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Loan

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