Where to Get Capital for Specialty Food Stores

With these small business loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $210,000 was given to an Indiana entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomington, Indiana was able to borrow $210,000 from Monroe Bank. The SBA made the loan possible by guaranteeing $157,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
BLOOMINGTON, IN 47401

SBA Loan Lender

MONROE BANK
210 E KIRKWOOD AVE
BLOOMINGTON, IN 47408

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

5/7/2007

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The loan application indicated that the borrowed money would help create 9 new jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Accountant's Role in Securing Financing

SBA Participating Banks in Bloomington, Indiana

SBA Participating Banks in Indiana