How to Get a Loan for Convenience Stores

With these SBA loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $639,000 was given to a New Jersey entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pemberton, New Jersey was able to borrow $639,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $479,250 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
Pemberton, NJ 08068

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$639,000

Loan Approval from the SBA

Of the total $639,000 loan amount, the SBA guaranteed $479,250.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp 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:

Business Credit Evaluation

Small Bank Loans in Livingston, New Jersey

SBA New Jersey Lenders