Financing for Petroleum Bulk Stations and Terminals

Looking for loans for petroleum bulk stations and terminals? An SBA loan may be just what you've been looking for. This $200,000 petroleum bulk stations and terminals loan was issued by a North Dakota bank.

Getting a small business loan in Oakes, North Dakota was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First St. Bank - No. Dakota, operating out of La Moure, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS
OAKES, ND 58474

SBA Loan Lender

FIRST ST. BANK - NO. DAKOTA
100 1ST AVE SW
LA MOURE, ND 58458

This lender issued this SBA business loan under the SBA's 7A loan, 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

5171 - Petroleum Bulk Stations and Terminals

NAICS Code

422710 - Petroleum Bulk Stations and Terminals

Loan Approval Date

12/4/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First St. Bank - No. Dakota had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First St. Bank - No. Dakota 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:

Banking Deregulation's Effects on Entrepreneurship

Small Bank Loans in La Moure, North Dakota

Getting a Business Loan in North Dakota