Financing for General Line Grocery Wholesalers

With these commercial loans for general line grocery wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery wholesalers loan for $160,000 was given to a Virginia entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alexandria, Virginia was able to borrow $160,000 from The Adams National Bank. The SBA made the loan possible by guaranteeing $120,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
ALEXANDRIA, VA 22304

SBA Loan Lender

THE ADAMS NATIONAL BANK
1130 CONNECTICUT AVE NW, STE
WASHINGTON, DC 20006

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5141 - Groceries, General Line

NAICS Code

422410 - General Line Grocery Wholesalers

Loan Approval Date

7/26/2001

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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