 |
 |
December 22, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > California Business Loan Sources > Buena Park, Business Loans > Uniti Bank Buena Park Business Loans > Supermarkets And Grocery Stores Loan | ||||
 |
||||
Advice for Businesses On Getting a Loan
|
||||
 |
Getting an SBA Loan for Supermarkets and Grocery StoresLooking for SBA loans for supermarkets and grocery stores? The SBA may be the answer. This $432,000 supermarkets and grocery stores loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Long Beach, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Uniti Bank, based in Buena Park, California. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender UNITI BANK 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 4/6/2004 Loan Approval Gross Amount $432,000 Loan Approval from the SBA Of the total $432,000 loan amount, the SBA guaranteed $324,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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. Related Links: Good Banks for Small Business in Buena Park, California
|
|
||
|
||||
|
|
||||