University Dr Fargo ND LLC
University Dr Fargo ND LLC is a gasoline station with convenience store business in Fargo, North Dakota (NAICS 457110). It was financed with an SBA 7(a) loan for a change of ownership of $713,000, approved on December 9, 2024 by Wallis Bank.
SBA 7(a) loan, change of ownership, approved Dec 9, 2024
$713,000 approvedLender: Wallis Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $713,000
- SBA-guaranteed amount
- $534,750 (75% of the approval)
- Lender
- Wallis Bank, Wallis, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,324 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Cass 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 10% 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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