Supermarkets and Grocery Stores Small Business Loans
Looking for small business loans for supermarkets and grocery stores? The SBA may be the answer. This $33,500 supermarkets and grocery stores loan was issued by a Rhode Island bank.
This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $33,500 to help grow their Harvey Cedars, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
Harvey Cedars, NJ 08008
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this loan for a small business 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
445110 - Supermarkets and Grocery Stores
Loan Approval Date
4/4/2005
Loan Approval Gross Amount
$33,500
Loan Approval from the SBA
Of the total $33,500 loan amount, the SBA guaranteed $16,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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