4th Ave Minot ND LLC
4th Ave Minot ND LLC is located in Minot, ND, and the SBA lists its industry as Gasoline Stations with Convenience Stores. It was approved for an SBA 7(a) loan of $531,500 for a change of ownership on June 5, 2024.
SBA 7(a) loan, change of ownership, approved Jun 5, 2024
- Gross approval
- $531,500
- SBA-guaranteed amount
- $398,625 (75% of the approval)
- Lender
- Wallis Bank, Wallis, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 5, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $7,172 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Ward County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 2% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in North Dakota: $1,899,142.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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