Commercial Loans for Convenience Stores

With these commercial loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $634,200 was given to a Michigan entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Dearborn Heights, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Capitol Bancorp, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
DEARBORN HEIGHTS, MI 48125

SBA Loan Lender

CAPITOL BANCORP
200 WASHINGTON SQ NORTH
LANSING, MI 48933

This commercial 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.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

8/9/2007

Loan Approval Gross Amount

$634,200

Loan Approval from the SBA

Of the total $634,200 loan amount, the SBA guaranteed $475,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Line of Credit

Small Bank Loans in Lansing, Michigan

SBA Michigan Lenders