How to Get a Loan for Convenience Stores

With these SBA loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $742,000 was given to a Georgia entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Atlanta, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Center Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
ATLANTA, GA 30310

SBA Loan Lender

CENTER BANK
253 N WESTERN AVE
LOS ANGELES, CA 90004

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

2/8/2006

Loan Approval Gross Amount

$742,000

Loan Approval from the SBA

Of the total $742,000 loan amount, the SBA guaranteed $556,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Center Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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