Bank Loans for Supermarkets and Grocery Stores
With these bank loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $20,000 was given to a Pennsylvania entrepreneur in 2005.
This company knew how to go about getting a business bank loan. Based in Wyomissing, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Vist Bank, based in Wyomissing, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
WYOMISSING, PA 19610
SBA Loan Lender
VIST BANK
1240 BROADCASTING RD
WYOMISSING, PA 19610
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
5/24/2005
Loan Approval Gross Amount
$20,000
Loan Approval from the SBA
Of the total $20,000 loan amount, the SBA guaranteed $10,000.
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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
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.
This SBA loan was for $20,000. How would you spend $20,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Obtaining Funding From a Venture Capitalist
Best Banks for Small Business in Wyomissing, Pennsylvania
Pennsylvania SBA Bank Lenders