SBA Loan from Community So. Bank D.B.A Commun Helps Gasoline Stations With Convenience Stores Company

Community So. Bank D.B.A Commun has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them.

Getting a small business loan in Muncie/ Muncie/ Yorktown, Indiana was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community So. Bank D.B.A Commun, operating out of Parsons, Tennessee. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
Muncie/ Muncie/ Yorktown, IN 47303

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

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

8/9/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,409,250.

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 24 employees. The SBA loan documents indicated that the loan would help retain 24 existing jobs.

Next Steps for Getting an SBA Loan

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

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 $2,000,000 loan. Remember, things become real when you believe you can achieve them!

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:

Obtaining Funding - Getting Venture Capital

Who Lends Money to Small Businesses in Parsons, Tennessee

Tennessee SBA 7A Lenders