Borrowing Money 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 $75,600 was given to a New York entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Woodhull, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Steuben Trust, based in Hornell, New York.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
WOODHULL, NY 14898

SBA Loan Lender

STEUBEN TRUST
ONE STEUBEN SQ
HORNELL, NY 14843

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/29/2006

Loan Approval Gross Amount

$75,600

Loan Approval from the SBA

Of the total $75,600 loan amount, the SBA guaranteed $64,260.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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 Steuben Trust 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.

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