Raising Money for Gift, Novelty, and Souvenir Stores
Looking for bank loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $128,000 gift, novelty, and souvenir stores loan was issued by a Louisiana bank.
Getting a small business loan in Baton Rouge, Louisiana was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Source Business & Indust Devel Cor, operating out of Baton Rouge, Louisiana. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
BATON ROUGE, LA 70810
SBA Loan Lender
SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
5/22/2002
Loan Approval Gross Amount
$128,000
Loan Approval from the SBA
Of the total $128,000 loan amount, the SBA guaranteed $108,800.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 16 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
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