Raising Money for Convenience Stores

With these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $170,000 was given to a New Jersey entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lindenwold, New Jersey was able to borrow $170,000 from Interchange Finan Services Cor. The SBA made the loan possible by guaranteeing $127,500 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LINDENWOLD, NJ 08021

SBA Loan Lender

INTERCHANGE FINAN SERVICES COR
PARK 80 WEST PLZ 2
SADDLE BROOK, NJ 07663

This lender issued this bank loan under the 7A SBA 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

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/27/2003

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Saddle Brook, New Jersey

New Jersey SBA Bank Lenders