Commercial Loans for Specialty Food Stores
Looking for commercial loans for specialty food stores? Try the SBA. This $297,500 specialty food stores loan was issued by a North Carolina bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fredericksburg, Virginia was able to borrow $297,500 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $148,750 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY FOOD STORES
FREDERICKSBURG, VA 22401
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
445299 - Specialty Food Stores
Loan Approval Date
5/15/2007
Loan Approval Gross Amount
$297,500
Loan Approval from the SBA
Of the total $297,500 loan amount, the SBA guaranteed $148,750.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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