Supermarkets and Grocery Stores Loans

With these loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $85,000 was given to a Texas entrepreneur in 2002.

Getting a small business loan in Austin, Texas was important for Blue Bonnet Food Mart back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce, operating out of Austin, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

BLUE BONNET FOOD MART
1701 BLUEBONNET LANE
AUSTIN, TX 78704

SBA Loan Lender

AMERICAN BANK OF COMMERCE
2243 W BRAKER LN
AUSTIN, TX 78758

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . 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 Other Grocery (except Convenience) Stores

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower, Blue Bonnet Food Mart, 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 business planned to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Blue Bonnet Food Mart walked into American Bank Of Commerce and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Accountant's Role in Securing Financing

SBA Banks in Austin, Texas

SBA Lenders in Texas

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