Get an SBA Loan for General Merchandise Stores

With these loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $426,200 was given to an Alaska entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Alaska Growth Cap. Bidco Inc., out of Anchorage, Alaska. The loan was granted and they received $426,200 to help grow their Galena, Alaska business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
GALENA, AK 99741

SBA Loan Lender

ALASKA GROWTH CAP. BIDCO INC.
3900 C STREET, SUITE 302
ANCHORAGE, AK 99503

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

9/29/2003

Loan Approval Gross Amount

$426,200

Loan Approval from the SBA

Of the total $426,200 loan amount, the SBA guaranteed $319,650.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Galena AK, you ought to talk with a local Galena SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Galena businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Alaska Growth Cap. Bidco Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Alaska Growth Cap. Bidco Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Where to Get an SBA Loan in Anchorage, Alaska

Getting an SBA Loan in Alaska