Where to Get Capital for Supermarkets and Grocery Stores

Looking for small business loans for supermarkets and grocery stores? The SBA may be the answer. This $50,000 supermarkets and grocery stores loan was issued by a Rhode Island bank.

This company knew how to go about getting a business bank loan. Based in Framingham, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
FRAMINGHAM, MA 01702

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

10/9/2002

Loan Approval Gross Amount

$50,000

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 23 employees. The SBA loan application for the borrower indicated that the loan would help retain 23 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Framingham MA, you ought to talk with a local Framingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Framingham businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America 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.

Related Links:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Providence, Rhode Island

Getting an SBA Loan in Rhode Island