Commercial Loans for Gasoline Stations with Convenience Stores
With these commercial loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $150,000 was given to an Iowa entrepreneur in 2001.
Getting a small business loan in Ogden, Iowa was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from City State Bank, operating out of Ogden, Iowa. Here are the details on this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
OGDEN, IA 50212
SBA Loan Lender
CITY STATE BANK
217 W MULBERRY
OGDEN, IA 50212
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
6/26/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $120,000.
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 8 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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
SBA Participating Banks in Ogden, Iowa
SBA Iowa Banks