How to Get a Loan for Specialty Food Stores

Looking for SBA loans for specialty food stores? Try the SBA. This $50,000 specialty food stores loan was issued by a Florida bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Business Loan Center, LLC, out of Panama City Beach, Florida. The loan was granted and they received $50,000 to help grow their Honolulu, Hawaii business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
Honolulu, HI 96817

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
415 BECKRICH RD., STE 250
PANAMA CITY BEACH, FL 32407

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

11/7/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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. This SBA loan request 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.

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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