Getting an SBA Loan for General Merchandise Stores

With these commercial loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $100,000 was given to a Massachusetts entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lynn, Massachusetts was able to borrow $100,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
LYNN, MA 01902

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

10/26/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

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

If you are raising money in Lynn MA, you ought to talk with a local Lynn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lynn businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rbs Citizens are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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