Business Loans for Supermarkets and Grocery Stores
With these business loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $50,000 was given to a Michigan entrepreneur in 2005.
Getting a small business loan in Detroit, Michigan was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens, operating out of Cleveland, Ohio. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
DETROIT, MI 48210
SBA Loan Lender
1215 SUPERIOR AVE
CLEVELAND, OH 44114
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.
445110 - Supermarkets and Grocery Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.
Start the Process for Getting an SBA Loan Today!
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, things become real when you believe you can achieve them!
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.
Borrowing Money from Friends and Family
Find an SBA Lender in Cleveland, Ohio
SBA Ohio Lenders