How to Get a Loan for Petroleum Bulk Stations and Terminals

Looking for SBA loans for petroleum bulk stations and terminals? Try the SBA. This $377,000 petroleum bulk stations and terminals loan was issued by a North Dakota bank.

This small business knew how to go about getting a business bank loan. Based in Oakes, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Community Cu, based in Jamestown, North Dakota.

SBA Loan Borrower

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

SBA Loan Lender

FIRST COMMUNITY CU
111 SW 9TH ST
JAMESTOWN, ND 58401

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

10/6/2004

Loan Approval Gross Amount

$377,000

Loan Approval from the SBA

Of the total $377,000 loan amount, the SBA guaranteed $282,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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