Financing for Convenience Stores

Looking for commercial loans for convenience stores? Try the SBA. This $204,500 convenience stores loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gilbertville, Iowa was able to borrow $204,500 from Farmers State Bank. The SBA made the loan possible by guaranteeing $153,375 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
GILBERTVILLE, IA 50634

SBA Loan Lender

FARMERS STATE BANK
1009 PEOPLE SQUARE
WATERLOO, IA 50702

This lender issued this bank loan under the SBA 7A lending program , 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

445120 - Convenience Stores

Loan Approval Date

11/13/2007

Loan Approval Gross Amount

$204,500

Loan Approval from the SBA

Of the total $204,500 loan amount, the SBA guaranteed $153,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $204,500 loan. Remember, anyone can do it... so why not you?

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 Credit Cards

SBA 7A Banks for Waterloo, Iowa Loans

Iowa SBA Banks