How to Get a Loan for Convenience Stores

With these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $41,000 was given to a Tennessee entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jasper, Tennessee was able to borrow $41,000 from First Volunteer Bank - Tennessee. The SBA made the loan possible by guaranteeing $32,800 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
JASPER, TN 37347

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
105 BETSY PACK DR
JASPER, TN 37347

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/14/2000

Loan Approval Gross Amount

$41,000

Loan Approval from the SBA

Of the total $41,000 loan amount, the SBA guaranteed $32,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

504 Loans

SBA Participating Banks in Jasper, Tennessee

Tennessee SBA 7A Lenders