Financing for Supermarkets and Grocery Stores
Looking for commercial loans for supermarkets and grocery stores? An SBA loan may be just what you've been looking for. This $1,800,000 supermarkets and grocery stores loan was issued by a California bank.
This business knew how to go about getting a business bank loan. Based in Pasadena, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Professional Business Bank, based in Glendale, California.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
PASADENA, CA 91104
SBA Loan Lender
PROFESSIONAL BUSINESS BANK
250 N ORANGE ST
GLENDALE, CA 91203
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
445110 - Supermarkets and Grocery Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $1,800,000 loan amount, the SBA guaranteed $1,350,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. 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 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 $1,800,000 loan. Remember, feel the fear, and do it anyway.
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.
Getting a Small Business Loan
Small Bank Loans in Glendale, California
SBA Lenders in California