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