Business Loans for Gasoline Stations with Convenience Stores

With these business 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 $75,000 was given to a Michigan entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Galesburg, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was United Bank Of Michigan, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
GALESBURG, MI 49052

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

1/22/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Galesburg MI, you ought to talk with a local Galesburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Galesburg businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank Of Michigan had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank Of Michigan made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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