Convenience Stores Small Business Loans

With these small business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $26,600 was given to a Massachusetts entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Methuen, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Sovereign Bank, based in Villanova, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
METHUEN, MA 01844

SBA Loan Lender

SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

445120 - Convenience Stores

Loan Approval Date

10/4/2006

Loan Approval Gross Amount

$26,600

Loan Approval from the SBA

Of the total $26,600 loan amount, the SBA guaranteed $13,300.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Methuen MA, you ought to talk with a local Methuen SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Methuen businesses.

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 Sovereign Bank 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.

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