Financing for Supermarkets and Grocery Stores

With these commercial loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $100,000 was given to a Michigan entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $100,000 from California Bank & Trust. The SBA made the loan possible by guaranteeing $50,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
Detroit, MI 48202

SBA Loan Lender

CALIFORNIA BANK & TRUST
11622 EL CAMINO REAL, STE 200
SAN DIEGO, CA 92130

This lender processed this SBA bank 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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/15/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, where there is a will, there is a way!

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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