Business Loans for Convenience Stores

Looking for business loans for convenience stores? Talk to a banker who works with the SBA. This $375,000 convenience stores loan was issued by an Oklahoma bank.

This business knew how to go about getting a business bank loan. Based in Sentinel, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Great Plains National Bank, based in Elk City, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
SENTINEL, OK 73664

SBA Loan Lender

GREAT PLAINS NATIONAL BANK
2017 W THIRD
ELK CITY, OK 73644

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

8/22/2003

Loan Approval Gross Amount

$375,000

Loan Approval from the SBA

Of the total $375,000 loan amount, the SBA guaranteed $281,250.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Angel Investors

Good Banks for Small Business in Elk City, Oklahoma

Oklahoma SBA 7A Lenders