Loans for Supermarkets and Grocery Stores

Looking for loans for supermarkets and grocery stores? An SBA loan may be just what you've been looking for. This $1,050,000 supermarkets and grocery stores loan was issued by a New York bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Shinhan Bank America, out of New York City, New York. The loan was granted and they received $1,050,000 to help grow their East Orange, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
EAST ORANGE, NJ 07018

SBA Loan Lender

SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

12/28/2004

Loan Approval Gross Amount

$1,050,000

Loan Approval from the SBA

Of the total $1,050,000 loan amount, the SBA guaranteed $787,500.

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 SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in New York City, New York

SBA Lenders in New York