Getting an SBA Loan for Convenience Stores

With these commercial loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $100,000 was given to a Massachusetts entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Belmont (town Of), Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Mercantile Bank & Trust, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
BELMONT (TOWN OF), MA 02478

SBA Loan Lender

MERCANTILE BANK & TRUST
61 BROOKLINE AVE
BOSTON, MA 02215

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

12/6/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Realistic Debt Financing Options

Where to Get an SBA Loan in Boston, Massachusetts

Massachusetts SBA Banks