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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > International Falls, Business Loans > Border State Bank International Falls Business Loans > Grocery Stores Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Gasoline Stations with Convenience Stores Commercial LoansWith these commercial 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 $120,000 was given to a Minnesota entrepreneur in 2001. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Border State Bank, out of International Falls, Minnesota. The loan was granted and they received $120,000 to help grow their International Falls, Minnesota business. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender BORDER STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 5/24/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Find an SBA Lender in International Falls, Minnesota
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