Raising Money for Convenience Stores

With these bank loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $307,500 was given to a Maine entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clinton, Maine was able to borrow $307,500 from Savings Bank Of Maine. The SBA made the loan possible by guaranteeing $230,625 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CLINTON, ME 04927

SBA Loan Lender

SAVINGS BANK OF MAINE
190 WATER ST
GARDINER, ME 04345

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.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$307,500

Loan Approval from the SBA

Of the total $307,500 loan amount, the SBA guaranteed $230,625.

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 11 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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