Where to Get Capital for Convenience Stores

With these small business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $230,000 was given to a California entrepreneur in 2008.

This company knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Hana Small Business Lending Inc., based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
LOS ANGELES, CA 90010

SBA Loan Lender

HANA SMALL BUSINESS LENDING INC.
1000 WILSHIRE BLVD, SUITE 200
LOS ANGELES, CA 90017

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

1/10/2008

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

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. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hana Small Business Lending Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Bank Credit Lines

SBA 7A Banks in Los Angeles, California

SBA California Lenders