Convenience Stores Business Loans

Looking for business loans for convenience stores? An SBA loan may be just what you've been looking for. This $86,600 convenience stores loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmer, Michigan was able to borrow $86,600 from Peninsula Bank - Ishpening. The SBA made the loan possible by guaranteeing $73,610 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
PALMER, MI 49871

SBA Loan Lender

PENINSULA BANK - ISHPENING
100 S MAIN ST
ISHPEMING, MI 49849

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

6/28/2001

Loan Approval Gross Amount

$86,600

Loan Approval from the SBA

Of the total $86,600 loan amount, the SBA guaranteed $73,610.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $86,600. How would you spend $86,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA 7A Banks in Ishpeming, Michigan

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