Main Street Registry

Gateway Grand Forks ND LLC

Grand Forks, ND · Gasoline Stations with Convenience Stores · NAICS 457110

Gateway Grand Forks ND LLC is a gasoline station and convenience store business in Grand Forks, North Dakota, classified under NAICS 457110. The company 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
Grand Forks 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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Same industry in North Dakota