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 $196,000 was given to a Virginia entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Knoxville, Tennessee. The loan was granted and they received $196,000 to help grow their Moneta, Virginia business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
MONETA, VA 24121

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

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.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

2/10/2004

Loan Approval Gross Amount

$196,000

Loan Approval from the SBA

Of the total $196,000 loan amount, the SBA guaranteed $147,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Community So. Bank D.B.A Commun 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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