Commercial Loans for Supermarkets and Grocery Stores

Looking for commercial loans for supermarkets and grocery stores? Try the SBA. This $38,900 supermarkets and grocery stores loan was issued by a South Dakota bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Fidelity Bank, out of Colome, South Dakota. The loan was granted and they received $38,900 to help grow their Colome, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
COLOME, SD 57528

SBA Loan Lender

FIRST FIDELITY BANK
301 MAIN ST
COLOME, SD 57528

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves 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.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$38,900

Loan Approval from the SBA

Of the total $38,900 loan amount, the SBA guaranteed $33,065.

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 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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