Business Loan from American Enterprise Bank Given to Gasoline Service Stations Company

An SBA loan from American Enterprise Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Indianapolis, Indiana business owner got a $1,005,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with American Enterprise Bank, out of Buffalo Grove, Illinois. The loan was granted and they received $1,005,000 to help grow their Indianapolis, Indiana business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
INDIANAPOLIS, IN 46226

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

This SBA business loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$1,005,000

Loan Approval from the SBA

Of the total $1,005,000 loan amount, the SBA guaranteed $753,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American Enterprise Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American Enterprise Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Loan

Find an SBA Lender in Buffalo Grove, Illinois

Getting an SBA Loan in Illinois