How to Get a Loan for Convenience Stores

Looking for business loans for convenience stores? Try the SBA. This $179,470 convenience stores loan was issued by an Ohio bank.

Getting a small business loan in Cincinnati, Ohio was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Aurgroup Financial Cu, operating out of Fairfield, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CINCINNATI, OH 45226

SBA Loan Lender

AURGROUP FINANCIAL CU
8811 HOLDEN BLVD
FAIRFIELD, OH 45014

This lender issued this SBA 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

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

2/28/2007

Loan Approval Gross Amount

$179,470

Loan Approval from the SBA

Of the total $179,470 loan amount, the SBA guaranteed $134,603.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 Aurgroup Financial Cu 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:

The Art of Bootstrapping

Small Business Banks in Fairfield, Ohio

Ohio SBA 7A Lenders