Main Street Registry

Lincoln USA LLC

Galesburg, IL · Gasoline Stations with Convenience Stores · NAICS 457110

Lincoln USA LLC is a gasoline station with convenience store business in Galesburg, Illinois. It was financed with an SBA 7(a) loan for a change of ownership totaling $1,950,000, approved on April 22, 2025 by Byline Bank.

SBA 7(a) loan, change of ownership, approved Apr 22, 2025

$1,950,000 approvedLender: Byline Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,950,000
SBA-guaranteed amount
$1,462,500 (75% of the approval)
Lender
Byline Bank, Chicago, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
April 22, 2050 (estimated, approval date plus term)
Estimated monthly payment
$17,377 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 24, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Franchise
Reif Oil Company of Burlington, Iowa (Phillips 66) Supply Agreement
Project location
Knox County, IL
SBA district office
Illinois District Office
Congressional district
IL-17
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 54% 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 Illinois: $1,796,780.

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 Illinois