Financing for Supermarkets and Grocery Stores

Looking for commercial loans for supermarkets and grocery stores? Try the SBA. This $491,200 supermarkets and grocery stores loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with American State Bank, out of Sioux Center, Iowa. The loan was granted and they received $491,200 to help grow their Paullina, Iowa business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
PAULLINA, IA 51046

SBA Loan Lender

AMERICAN STATE BANK
525 N MAIN AVE
SIOUX CENTER, IA 51250

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

2/14/2002

Loan Approval Gross Amount

$491,200

Loan Approval from the SBA

Of the total $491,200 loan amount, the SBA guaranteed $368,400.

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 American State Bank 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:

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SBA Approved Banks in Sioux Center, Iowa

Iowa SBA 7A Banks