SBA Loans for Supermarkets and Grocery Stores

With these SBA loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $332,718 was given to a North Carolina entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in High Point, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Newbridge Bank, based in High Point, North Carolina.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
HIGH POINT, NC 27262

SBA Loan Lender

NEWBRIDGE BANK
200 WESTCHESTER DR
HIGH POINT, NC 27262

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/26/2003

Loan Approval Gross Amount

$332,718

Loan Approval from the SBA

Of the total $332,718 loan amount, the SBA guaranteed $249,539.

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 27 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

How Much Venture Capital Is There?

Small Business Banks in High Point, North Carolina

Find an SBA Lender in North Carolina