Community Bank SBA Loan to Grocery Stores Company

Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Carthage, New York was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Bank, operating out of Watertown, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CARTHAGE, NY 13619

SBA Loan Lender

COMMUNITY BANK
216 WASHINGTON ST
WATERTOWN, NY 13601

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

9/10/2001

Loan Approval Gross Amount

$111,594

Loan Approval from the SBA

Of the total $111,594 loan amount, the SBA guaranteed $94,855.

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 12 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Equity Financing

Good Banks for Small Business in Watertown, New York

Where to Get an SBA Loan New York