Raising Money for Convenience Stores

With these bank loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $407,000 was given to a Maine entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Biddeford, Maine was able to borrow $407,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $305,250 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BIDDEFORD, ME 04005

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

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

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

4/6/2005

Loan Approval Gross Amount

$407,000

Loan Approval from the SBA

Of the total $407,000 loan amount, the SBA guaranteed $305,250.

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 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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SBA Approved Banks in Portsmouth, New Hampshire

SBA Participating Banks in New Hampshire