Financing for Supermarkets and Grocery Stores

With these loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $570,000 was given to a New York entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rego Park, New York was able to borrow $570,000 from Bnb Bank, National Association. The SBA made the loan possible by guaranteeing $427,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
REGO PARK, NY 11374

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

6/22/2007

Loan Approval Gross Amount

$570,000

Loan Approval from the SBA

Of the total $570,000 loan amount, the SBA guaranteed $427,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bnb Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Line of Credit

SBA Banks in Fort Lee, New Jersey

Getting a Business Loan in New Jersey