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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > First Commercial Bank Bloomington Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Business Loans for Edina Businesses
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Gasoline Stations with Convenience Stores Commercial LoansLooking for commercial loans for gasoline stations with convenience stores? The SBA may be the answer. This $560,000 gasoline stations with convenience stores loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Edina, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Commercial Bank, based in Bloomington, Minnesota. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender FIRST COMMERCIAL BANK This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 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. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 9/5/2001 Loan Approval Gross Amount $560,000 Loan Approval from the SBA Of the total $560,000 loan amount, the SBA guaranteed $420,000. 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 only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Edina or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Bloomington, Minnesota
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