How to Get a Loan for Fuel Dealers

Looking for SBA loans for fuel dealers? Talk to a banker who works with the SBA. This $1,117,000 fuel dealers loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Paul, Minnesota was able to borrow $1,117,000 from Park Midway Bank. The SBA made the loan possible by guaranteeing $837,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FUEL DEALERS
ST. PAUL, MN 55104

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454319 - Fuel Dealers

Loan Approval Date

12/4/2001

Loan Approval Gross Amount

$1,117,000

Loan Approval from the SBA

Of the total $1,117,000 loan amount, the SBA guaranteed $837,750.

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 11 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 14 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Park Midway Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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