SBA Loan from Cedar Security Bank Helps Gasoline Stations With Convenience Stores Company
Cedar Security Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Nebraska entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Creighton, Nebraska was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Cedar Security Bank, operating out of Fordyce, Nebraska. Here are the details on this Nebraska small business loan.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
CREIGHTON, NE 68729
SBA Loan Lender
CEDAR SECURITY BANK
117 MAIN ST
FORDYCE, NE 68736
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
5/29/2007
Loan Approval Gross Amount
$321,250
Loan Approval from the SBA
Of the total $321,250 loan amount, the SBA guaranteed $240,937.
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 6 employees. This SBA loan request indicated that the funding would help create 6 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cedar Security Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Borrowing Money from Friends and Family
SBA Banks in Fordyce, Nebraska
Nebraska SBA Banks