Convenience Stores SBA Loans

With these SBA loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $135,200 was given to a Maine entrepreneur in 2002.

Getting a small business loan in Ashland, Maine was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Norstate Fcu, operating out of Madawaska, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
ASHLAND, ME 04732

SBA Loan Lender

NORSTATE FCU
78 FOX ST
MADAWASKA, ME 04756

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

2/8/2002

Loan Approval Gross Amount

$135,200

Loan Approval from the SBA

Of the total $135,200 loan amount, the SBA guaranteed $114,920.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Norstate Fcu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Norstate Fcu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Small Bank Loans in Madawaska, Maine

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