Business Loans for Gasoline Stations

Looking for business loans for gasoline stations? Try the SBA. This $739,000 gasoline stations loan was issued by an Illinois bank.

Getting a small business loan in Edwardsville, Illinois was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Midland States Bank, operating out of Effingham, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
EDWARDSVILLE, IL 62025

SBA Loan Lender

MIDLAND STATES BANK
133 W JEFFERSON
EFFINGHAM, IL 62401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

9/19/2002

Loan Approval Gross Amount

$739,000

Loan Approval from the SBA

Of the total $739,000 loan amount, the SBA guaranteed $554,250.

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 only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Midland States Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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