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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > South Burlington, Business Loans > The Merchants Bank South Burlington Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Raising Money for Supermarkets and Grocery StoresLooking for business loans for supermarkets and grocery stores? Try the SBA. This $50,000 supermarkets and grocery stores loan was issued by a Vermont bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Merchants Bank, out of South Burlington, Vermont. The loan was granted and they received $50,000 to help grow their Saint Johnsbury, Vermont business. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender THE MERCHANTS BANK 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 6/15/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Merchants Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Banks in South Burlington, Vermont
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