Getting an SBA Loan for Supermarkets and Grocery Stores

With these SBA loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $16,800 was given to a Virginia entrepreneur in 2003.

Euro-Bas Corp knew how to go about getting a business bank loan. Based in Newport News, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Suntrust Bank, based in Atlanta, Georgia.

SBA Loan Borrower

EURO-BAS CORP
271 SUMMERLAKE LANE
NEWPORT NEWS, VA 23602

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445110 - Supermarkets and Other Grocery (except Convenience) Stores

Loan Approval Date

4/22/2003

Loan Approval Gross Amount

$16,800

Loan Approval from the SBA

Of the total $16,800 loan amount, the SBA guaranteed $8,400.

More Information on This SBA Loan

The borrower, Euro-Bas Corp, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. This loan was paid in full, and was closed out on 5/3/2006.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suntrust Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

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

Related Links:

The Art of Bootstrapping

SBA Participating Banks in Atlanta, Georgia

Getting a Business Loan in Georgia

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