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May 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Convenience Stores Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Small Business Loans for Convenience StoresWith these small business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $647,000 was given to a Florida entrepreneur in 2003. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Knoxville, Tennessee. The loan was granted and they received $647,000 to help grow their Inverness, Florida business. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445120 - Convenience Stores Loan Approval Date 12/16/2003 Loan Approval Gross Amount $647,000 Loan Approval from the SBA Of the total $647,000 loan amount, the SBA guaranteed $485,250. 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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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 $647,000 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. Related Links: Obtaining Funding - How to Borrow Money SBA Approved Banks in Knoxville, Tennessee
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