Get an SBA Loan for Convenience Stores

Looking for small business loans for convenience stores? An SBA loan may be just what you've been looking for. This $82,600 convenience stores loan was issued by a New Mexico bank.

This company knew how to go about getting a business bank loan. Based in Mesquite, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Mesilla Valley Bank, based in Las Cruces, New Mexico.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
MESQUITE, NM 88048

SBA Loan Lender

MESILLA VALLEY BANK
230 S ALAMEDA AVE
LAS CRUCES, NM 88005

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

7/22/2003

Loan Approval Gross Amount

$82,600

Loan Approval from the SBA

Of the total $82,600 loan amount, the SBA guaranteed $70,210.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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