Supermarkets and Grocery Stores Commercial Loans

Looking for commercial loans for supermarkets and grocery stores? Talk to a banker who works with the SBA. This $140,000 supermarkets and grocery stores loan was issued by a New Jersey bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Lakeland Bank, out of Newfoundland, New Jersey. The loan was granted and they received $140,000 to help grow their Jersey City, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
JERSEY CITY, NJ 07307

SBA Loan Lender

LAKELAND BANK
2717 RTE 23 SOUTH
NEWFOUNDLAND, NJ 07435

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

12/1/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lakeland Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Role of Business Plan When Raising Money

SBA Approved Banks in Newfoundland, New Jersey

New Jersey SBA 7A Banks