Get an SBA Loan for Supermarkets and Grocery Stores

Looking for small business loans for supermarkets and grocery stores? Talk to a banker who works with the SBA. This $1,300,000 supermarkets and grocery stores loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in La Puente, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Pacific City Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
La Puente, CA 91744

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

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

1/18/2007

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 38 new jobs and retain 40 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in La Puente CA, you ought to talk with a local La Puente SBA lender or talk with an out-of-area SBA lender that has previously loaned money to La Puente businesses.

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.

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