Small Business Loans for Convenience Stores

Looking for small business loans for convenience stores? Talk to a banker who works with the SBA. This $537,000 convenience stores loan was issued by a Massachusetts bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Sovereign Bank, out of Dorchester, Massachusetts. The loan was granted and they received $537,000 to help grow their South Dartmouth, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
SOUTH DARTMOUTH, MA 02748

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

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

10/26/2006

Loan Approval Gross Amount

$537,000

Loan Approval from the SBA

Of the total $537,000 loan amount, the SBA guaranteed $402,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 17 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 29 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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

Dealing With Venture Capitalists

SBA 7A Banks in Dorchester, Massachusetts

Massachusetts SBA 7A Lenders