Loans for Petroleum Bulk Stations and Terminals

With these loans for petroleum bulk stations and terminals, the SBA guarantees the lender that the loan will be repaid. This petroleum bulk stations and terminals loan for $75,000 was given to a North Dakota entrepreneur in 2008.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northwood, North Dakota was able to borrow $75,000 from Mcville State Bank. The SBA made the loan possible by guaranteeing $37,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS
NORTHWOOD, ND 58267

SBA Loan Lender

MCVILLE STATE BANK
201 S MAIN ST
MCVILLE, ND 58254

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424710 - Petroleum Bulk Stations and Terminals

Loan Approval Date

1/3/2008

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mcville State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mcville State Bank 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.

Related Links:

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Mcville, North Dakota

North Dakota SBA 7A Lenders