Getting an SBA Loan for Gift, Novelty, and Souvenir Stores

Looking for commercial loans for gift, novelty, and souvenir stores? Try the SBA. This $27,000 gift, novelty, and souvenir stores loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Central Bank, out of Golden Valley, Minnesota. The loan was granted and they received $27,000 to help grow their Stillwater, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
STILLWATER, MN 55082

SBA Loan Lender

CENTRAL BANK
945 WINNETKA AVE NORTH
GOLDEN VALLEY, MN 55427

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.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $22,950.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 this company walked into Central Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

How to Raise Money

SBA Participating Banks in Golden Valley, Minnesota

SBA Lenders in Minnesota