Borrowing Money for Gasoline Stations with Convenience Stores

Looking for bank loans for gasoline stations with convenience stores? The SBA may be the answer. This $1,238,000 gasoline stations with convenience stores loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was American Enterprise Bank, based in Buffalo Grove, Illinois.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
INDIANAPOLIS, IN 46225

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$1,238,000

Loan Approval from the SBA

Of the total $1,238,000 loan amount, the SBA guaranteed $928,500.

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 loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Enterprise 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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