How to Get a Loan for Supermarkets and Grocery Stores

Looking for commercial loans for supermarkets and grocery stores? Try the SBA. This $353,950 supermarkets and grocery stores loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Cahokia, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First National Bank - Waterloo, based in Columbia, Illinois.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CAHOKIA, IL 62206

SBA Loan Lender

FIRST NATIONAL BANK - WATERLOO
1421 N MAIN
COLUMBIA, IL 62236

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/10/2005

Loan Approval Gross Amount

$353,950

Loan Approval from the SBA

Of the total $353,950 loan amount, the SBA guaranteed $265,463.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Cahokia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Credit Evaluation

SBA Participating Banks in Columbia, Illinois

Browse All Business Loan Sources for Illinois