Getting an SBA Loan for Petroleum Bulk Stations and Terminals

With these SBA loans for petroleum bulk stations and terminals, the SBA guarantees the lender that the loan will be repaid. This petroleum bulk stations and terminals loan for $325,000 was given to an Iowa entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Midwest Minnesota Iowa Na, out of Okoboji, Iowa. The loan was granted and they received $325,000 to help grow their Estherville, Iowa business.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS
ESTHERVILLE, IA 51334

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
1102 SANBORN AVE
OKOBOJI, IA 51355

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424710 - Petroleum Bulk Stations and Terminals

Loan Approval Date

12/13/2006

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 6 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.

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

SBA loans provide money to small business owners for working capital for other expenses.

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 Bank Midwest Minnesota Iowa Na 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:

Microlending as a Small Business Funding Source

Small Bank Loans in Okoboji, Iowa

Find an SBA Lender in Iowa