Financing for Specialty Food Stores

Looking for loans for specialty food stores? The SBA may be the answer. This $95,000 specialty food stores loan was issued by a Texas bank.

Getting a small business loan in Borger, Texas was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Borger Bank, operating out of Borger, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES AND RELATED PRODUCTS
BORGER, TX 79007

SBA Loan Lender

BORGER BANK
6TH & HEDGECOKE
BORGER, TX 79007

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5149 - Groceries and Related Products

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Borger Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

SBIR Funding

Banks in Borger, Texas

SBA Texas Lenders