How to Get a Loan for Petroleum and Petroleum Products Wholesalers

Looking for business loans for petroleum and petroleum products wholesalers? An SBA loan may be just what you've been looking for. This $385,000 petroleum and petroleum products wholesalers loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fargo, North Dakota was able to borrow $385,000 from Stearns Bank. The SBA made the loan possible by guaranteeing $288,750 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS
FARGO, ND 58103

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5172 - Petroleum and Petroleum Products

NAICS Code

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$385,000

Loan Approval from the SBA

Of the total $385,000 loan amount, the SBA guaranteed $288,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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