Iowa Bank Loan Issued to Gasoline Stations With Convenience Stores Company

IowaSmall business loans are available to Iowa small business owners through the SBA. In this case, an Illinois bank provides the loan.

This small business, based in Indianola, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from American Enterprise Bank. We've got the inside scoop on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
INDIANOLA, IA 50125

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/29/2007

Loan Approval Gross Amount

$1,790,400

Loan Approval from the SBA

Of the total $1,790,400 loan amount, the SBA guaranteed $1,342,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The loan application indicated that the loan would help retain 11 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Indianola or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Direct Public Offerings

SBA Approved Banks in Buffalo Grove, Illinois

Getting an SBA Loan in Illinois