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May 1, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Beverly Hills, Business Loans > Excel National Bank Beverly Hills Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Columbus, Indiana Bank Loan
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Excel National Bank Gives Business Loan to Gasoline Stations With Convenience Stores CompanyIndianaSBA loans are available to Indiana entrepreneurs through the SBA. In this case, a California bank provides the loan. By giving the right information to Excel National Bank, this Columbus, Indiana business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender EXCEL NATIONAL BANK 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 1/10/2008 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 3 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. 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 $600,000 loan. Remember, if it to be, it is up to me! 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: SBA 7A Banks for Beverly Hills, California Loans
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