How to Get a Loan for Supermarkets and Grocery Stores

Looking for commercial loans for supermarkets and grocery stores? The SBA may be the answer. This $865,000 supermarkets and grocery stores loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Borrego Springs Bank, out of Borrego Springs, California. The loan was granted and they received $865,000 to help grow their Tonopah, Arizona business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
TONOPAH, AZ 85354

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

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.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

4/2/2002

Loan Approval Gross Amount

$865,000

Loan Approval from the SBA

Of the total $865,000 loan amount, the SBA guaranteed $648,750.

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 12 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 12 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $865,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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