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May 11, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Spearfish, Business Loans > Wells Fargo Bank Spearfish Business Loans > Gasoline Service Stations Loan | ||||
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Who Can Get a Business Loan in Spearfish, South Dakota?
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Financing for Gasoline Stations with Convenience StoresLooking for loans for gasoline stations with convenience stores? An SBA loan may be just what you've been looking for. This $175,000 gasoline stations with convenience stores loan was issued by a South Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spearfish, South Dakota was able to borrow $175,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $131,250 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: GASOLINE SERVICE STATIONS SBA Loan Lender WELLS FARGO BANK This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA lending rules and regulations. 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 5/5/2003 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Wells Fargo 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Small Business Banks in Spearfish, South Dakota
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