Getting an SBA Loan for Supermarkets and Grocery Stores

Looking for SBA loans for supermarkets and grocery stores? The SBA may be the answer. This $37,000 supermarkets and grocery stores loan was issued by a Nebraska bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Potter St. Bank - Potter, out of Potter, Nebraska. The loan was granted and they received $37,000 to help grow their Potter, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
POTTER, NE 69156

SBA Loan Lender

POTTER ST. BANK - POTTER
301 CHESTNUT ST
POTTER, NE 69156

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/31/2004

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Potter St. Bank - Potter are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Incubators

Banks in Potter, Nebraska

Getting an SBA Loan in Nebraska