How to Get a Loan for Gasoline Stations with Convenience Stores

Looking for business loans for gasoline stations with convenience stores? The SBA may be the answer. This $346,800 gasoline stations with convenience stores loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Deer River, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Northview Bank, based in Finlayson, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
DEER RIVER, MN 56636

SBA Loan Lender

NORTHVIEW BANK
2203 FINLAND AVE
FINLAYSON, MN 55735

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small 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.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/21/2002

Loan Approval Gross Amount

$346,800

Loan Approval from the SBA

Of the total $346,800 loan amount, the SBA guaranteed $260,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Northview Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Startup Funding Tip

Best Banks for Small Business in Finlayson, Minnesota

SBA Participating Banks in Minnesota