Borrowing Money for Convenience Stores

Looking for loans for convenience stores? The SBA may be the answer. This $125,000 convenience stores loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chickasha, Oklahoma was able to borrow $125,000 from Chickasha Bank & Trust Company. The SBA made the loan possible by guaranteeing $106,250 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
CHICKASHA, OK 73018

SBA Loan Lender

CHICKASHA BANK & TRUST COMPANY
1924 S 4TH ST
CHICKASHA, OK 73018

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

1/8/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Chickasha Bank & Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Investor Turnoffs

Find an SBA Lender in Chickasha, Oklahoma

Getting an SBA Loan in Oklahoma