Raising Money for Convenience Stores

Looking for business loans for convenience stores? The SBA may be the answer. This $77,450 convenience stores loan was issued by a Maine bank.

This business knew how to go about getting a business bank loan. Based in Portland, Maine, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Rivergreen Bank, based in Kennebunk, Maine.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
PORTLAND, ME 04101

SBA Loan Lender

RIVERGREEN BANK
36 PORTLAND RD
KENNEBUNK, ME 04043

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

5/31/2006

Loan Approval Gross Amount

$77,450

Loan Approval from the SBA

Of the total $77,450 loan amount, the SBA guaranteed $38,725.

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 12 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Portland ME, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $77,450 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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