Supermarkets and Grocery Stores Loans
With these loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $900,000 was given to a California entrepreneur in 2002.
Getting a small business loan in Arcade, California was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Commercial Bank, operating out of San Francisco, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
ARCADE, CA 91007
SBA Loan Lender
UNITED COMMERCIAL BANK
555 MONTGOMERY ST
SAN FRANCISCO, CA 94111
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
5/24/2002
Loan Approval Gross Amount
$900,000
Loan Approval from the SBA
Of the total $900,000 loan amount, the SBA guaranteed $675,000.
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 55 employees. The SBA loan documents indicated that the loan would help generate 35 new jobs and retain 55 existing jobs.
Start the Process for Getting an SBA Loan Today!
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $900,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Advice on Getting a Small Business Loan
SBA 7A Banks in San Francisco, California
California SBA Banks