Borrowing Money for Convenience Stores

Looking for loans for convenience stores? Try the SBA. This $225,800 convenience stores loan was issued by a Washington bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood Center (census Name L, Washington was able to borrow $225,800 from City Bank. The SBA made the loan possible by guaranteeing $169,350 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
LAKEWOOD CENTER (CENSUS NAME L, WA 98499

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$225,800

Loan Approval from the SBA

Of the total $225,800 loan amount, the SBA guaranteed $169,350.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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