Loans for Convenience Stores

With these loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $379,288 was given to a California entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Alameda, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First National Bank - Northern Calif, based in San Francisco, California.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
ALAMEDA, CA 94501

SBA Loan Lender

FIRST NATIONAL BANK - NORTHERN CALIF
65 POST ST
SAN FRANCISCO, CA 94104

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/1/2001

Loan Approval Gross Amount

$379,288

Loan Approval from the SBA

Of the total $379,288 loan amount, the SBA guaranteed $284,466.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Northern Calif and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Business Credit Evaluation

Where to Get an SBA Loan in San Francisco, California

California SBA Bank Lenders