Bank Loans 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 $177,200 was given to a Michigan entrepreneur in 2006.

This company knew how to go about getting a business bank loan. Based in Detroit, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Citizens Bank, based in Flint, Michigan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
Detroit, MI 48205

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

1/3/2006

Loan Approval Gross Amount

$177,200

Loan Approval from the SBA

Of the total $177,200 loan amount, the SBA guaranteed $88,600.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank 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.

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