Lincoln State Bank SBA Loan to Gasoline Stations With Convenience Stores Company

An SBA loan from Lincoln State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lidgerwood, North Dakota business owner got a $110,000 loan.

Getting a small business loan in Lidgerwood, North Dakota was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Lincoln State Bank, operating out of Hankinson, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
LIDGERWOOD, ND 58053

SBA Loan Lender

LINCOLN STATE BANK
302 S MAIN ST
HANKINSON, ND 58041

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/7/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 8 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.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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 $110,000 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:

Getting a Small Business Loan

Best Banks in Hankinson, North Dakota

Getting a Business Loan in North Dakota