How to Get a Loan for Beer, Wine, and Liquor Stores

Looking for business loans for beer, wine, and liquor stores? Talk to a banker who works with the SBA. This $970,000 beer, wine, and liquor stores loan was issued by a New Jersey bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Lakeland Bank, out of Teaneck, New Jersey. The loan was granted and they received $970,000 to help grow their Saddle Brook, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
SADDLE BROOK, NJ 07663

SBA Loan Lender

LAKELAND BANK
417 CEDAR LN
TEANECK, NJ 07666

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank 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

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

7/18/2002

Loan Approval Gross Amount

$970,000

Loan Approval from the SBA

Of the total $970,000 loan amount, the SBA guaranteed $727,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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