Main Street Registry

Lahore Plaza LLC

Minneapolis, MN · Gasoline Stations with Convenience Stores · NAICS 457110

Lahore Plaza LLC is a gasoline station and convenience store business in Minneapolis, Minnesota, classified under NAICS code 457110. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.6 million, approved on August 15, 2024 through Metro City Bank, and the loan is reported with 13 jobs.

SBA 7(a) loan, change of ownership, approved Aug 15, 2024

$1,600,000 approvedLender: Metro City Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,600,000
SBA-guaranteed amount
$1,200,000 (75% of the approval)
Lender
Metro City Bank, Doraville, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
August 15, 2049 (estimated, approval date plus term)
Estimated monthly payment
$14,258 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 8, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
LLC or partnership
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-05
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 41% 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 Minnesota: $1,482,119.

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 Minnesota