Financing for Convenience Stores

With these loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $771,000 was given to a Pennsylvania entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Crum Lynne, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Commerce Bank, based in Flemington, New Jersey.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
Crum Lynne, PA 19022

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/25/2007

Loan Approval Gross Amount

$771,000

Loan Approval from the SBA

Of the total $771,000 loan amount, the SBA guaranteed $578,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. The SBA loan application for the borrower indicated that the borrowed money would help create 5 new jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Bank Credit Lines

SBA Participating Banks in Flemington, New Jersey

SBA New Jersey Lenders