Supermarkets and Grocery Stores Commercial Loans

With these commercial loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $197,000 was given to a Vermont entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Northfield, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was The Merchants Bank, based in South Burlington, Vermont.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
NORTHFIELD, VT 05663

SBA Loan Lender

THE MERCHANTS BANK
275 KENNEDY DR
SOUTH BURLINGTON, VT 05403

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

6/7/2000

Loan Approval Gross Amount

$197,000

Loan Approval from the SBA

Of the total $197,000 loan amount, the SBA guaranteed $147,750.

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 34 employees. The loan application indicated that the loan would help retain 34 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Northfield VT, you ought to talk with a local Northfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Northfield businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Merchants Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Related Links:

Obtaining Funding - Friends and Family

SBA Banks in South Burlington, Vermont

Vermont SBA Banks