Where to Get Capital for Gasoline Stations with Convenience Stores

With these small business loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $289,715 was given to a South Dakota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sturgis, South Dakota was able to borrow $289,715 from First National Bank. The SBA made the loan possible by guaranteeing $217,286 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
STURGIS, SD 57785

SBA Loan Lender

FIRST NATIONAL BANK
955 MAIN ST
STURGIS, SD 57785

This loan for a small business 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

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

2/3/2003

Loan Approval Gross Amount

$289,715

Loan Approval from the SBA

Of the total $289,715 loan amount, the SBA guaranteed $217,286.

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 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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

Strategic Investors

Banks in Sturgis, South Dakota

SBA South Dakota Lenders