4th Ave Minot ND LLC
4th Ave Minot ND LLC is a gasoline station with convenience store business in Minot, North Dakota, classified under NAICS code 457110. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $531,500, approved by Wallis Bank 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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