Financing for Convenience Stores

With these loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $307,000 was given to a West Virginia entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community Bank Of Parkersburg, out of Parkersburg, West Virginia. The loan was granted and they received $307,000 to help grow their Parkersburg, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
PARKERSBURG, WV 26101

SBA Loan Lender

COMMUNITY BANK OF PARKERSBURG
631 JULIANA ST
PARKERSBURG, WV 26101

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA 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.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$307,000

Loan Approval from the SBA

Of the total $307,000 loan amount, the SBA guaranteed $230,250.

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 8 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Of Parkersburg had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Of Parkersburg 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 - How to Decide How Much to Raise

SBA 7A Lenders in Parkersburg, West Virginia

SBA Lenders in West Virginia