Convenience Stores Business Loans

With these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $170,000 was given to a Pennsylvania entrepreneur in 2004.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Sovereign Bank, out of Wyomissing, Pennsylvania. The loan was granted and they received $170,000 to help grow their Philadelphia, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
PHILADELPHIA, PA 19137

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

2/25/2004

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

Small Business Banks in Wyomissing, Pennsylvania

Getting an SBA Loan in Pennsylvania