Getting an SBA Loan for Convenience Stores

With these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $33,000 was given to a Connecticut entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in New Haven, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
NEW HAVEN, CT 06511

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this 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

445120 - Convenience Stores

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $16,500.

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 documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Who Lends Money to Small Businesses in Providence, Rhode Island

Getting a Business Loan in Rhode Island