Getting an SBA Loan for Convenience Stores

With these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $50,000 was given to a New York entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Fort Hamilton (u.S. Army), New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Hsbc Bank Usa, based in Syracuse, New York.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
FORT HAMILTON (U.S. ARMY), NY 11220

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

8/18/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 17 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Fort Hamilton (u.S. Army) NY, you ought to talk with a local Fort Hamilton (u.S. Army) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Hamilton (u.S. Army) businesses.

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

Related Links:

Financing Your Business

Small Business Banks in Syracuse, New York

New York SBA 7A Lenders