How to Get a Loan for Convenience Stores

Looking for SBA loans for convenience stores? Talk to a banker who works with the SBA. This $65,000 convenience stores loan was issued by a Vermont bank.

This small business knew how to go about getting a business bank loan. Based in Orwell, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Lake Sunapee Bank, Fsb, based in Brandon, Vermont.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
ORWELL, VT 05760

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
2 PARK ST
BRANDON, VT 05733

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

5/10/2006

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lake Sunapee Bank, Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Brandon, Vermont

Where to Get an SBA Loan Vermont