Bank Loans for Convenience Stores

Looking for bank loans for convenience stores? An SBA loan may be just what you've been looking for. This $63,200 convenience stores loan was issued by a Kentucky bank.

Getting a small business loan in Paducah, Kentucky was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Paducah Bank & Trust, operating out of Paducah, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
PADUCAH, KY 42001

SBA Loan Lender

PADUCAH BANK & TRUST
555 JEFFERSON ST
PADUCAH, KY 42001

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

4/1/2005

Loan Approval Gross Amount

$63,200

Loan Approval from the SBA

Of the total $63,200 loan amount, the SBA guaranteed $53,720.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Paducah Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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