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May 14, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > North Salem, Business Loans > North Salem State Bank North Salem Business Loans > Gift, Novelty, And Souvenir Shops Loan | ||||
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Raising Money in Danville, Indiana With SBA Loans
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Getting an SBA Loan for Gift, Novelty, and Souvenir StoresLooking for business loans for gift, novelty, and souvenir stores? Try the SBA. This $80,000 gift, novelty, and souvenir stores loan was issued by an Indiana bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with North Salem State Bank, out of North Salem, Indiana. The loan was granted and they received $80,000 to help grow their Danville, Indiana business. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS SBA Loan Lender NORTH SALEM STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves 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. SIC Code 5947 - Gift, Novelty, and Souvenir Shops NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 12/24/2002 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from North Salem State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in North Salem, Indiana
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