How to Get a Loan for Supermarkets and Grocery Stores

Looking for SBA loans for supermarkets and grocery stores? The SBA may be the answer. This $830,600 supermarkets and grocery stores loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Shakopee, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Stearns Bank, based in Saint Cloud, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
SHAKOPEE, MN 55379

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

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.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/9/2000

Loan Approval Gross Amount

$830,600

Loan Approval from the SBA

Of the total $830,600 loan amount, the SBA guaranteed $622,950.

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 50 employees. The loan application indicated that the loan would help retain 50 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

SBIR Funding

Small Business Banks in Saint Cloud, Minnesota

Getting a Business Loan in Minnesota