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 $1,060,000 was given to a Michigan entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Grand Rapids, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Mercantile Bank Of Michigan, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
GRAND RAPIDS, MI 49507

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$1,060,000

Loan Approval from the SBA

Of the total $1,060,000 loan amount, the SBA guaranteed $795,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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