Small Business Loans for Convenience Stores

Looking for small business loans for convenience stores? Talk to a banker who works with the SBA. This $132,100 convenience stores loan was issued by an Oklahoma bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Freedom State Bank, out of Freedom, Oklahoma. The loan was granted and they received $132,100 to help grow their Freedom, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
FREEDOM, OK 73842

SBA Loan Lender

THE FREEDOM STATE BANK
411 MAIN
FREEDOM, OK 73842

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

3/3/2005

Loan Approval Gross Amount

$132,100

Loan Approval from the SBA

Of the total $132,100 loan amount, the SBA guaranteed $112,285.

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 6 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $132,100. How would you spend $132,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Dealing With Venture Capitalists

Small Bank Loans in Freedom, Oklahoma

Getting an SBA Loan in Oklahoma