Financing for Gift, Novelty, and Souvenir Stores

Looking for loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $54,700 gift, novelty, and souvenir stores loan was issued by a Kansas bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Peoples Bank & Trust Co., out of Nickerson, Kansas. The loan was granted and they received $54,700 to help grow their Buhler, Kansas business.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
BUHLER, KS 67585

SBA Loan Lender

PEOPLES BANK & TRUST CO.
76 N NICKERSON
NICKERSON, KS 67561

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

2/14/2001

Loan Approval Gross Amount

$54,700

Loan Approval from the SBA

Of the total $54,700 loan amount, the SBA guaranteed $46,495.

More Information on This SBA Loan

The borrower 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 3 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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.

Related Links:

Small Business Credit Cards

SBA Approved Banks in Nickerson, Kansas

SBA Kansas Lenders