Borrowing Money for Gift, Novelty, and Souvenir Stores

Looking for small business loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $100,000 gift, novelty, and souvenir stores loan was issued by a Wisconsin bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eau Claire, Wisconsin was able to borrow $100,000 from Royal Cu. The SBA made the loan possible by guaranteeing $80,000 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
EAU CLAIRE, WI 54701

SBA Loan Lender

ROYAL CU
402 GRAHAM AVE
EAU CLAIRE, WI 54701

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

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

4/5/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Royal Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Royal Cu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Eau Claire, Wisconsin

Getting an SBA Loan in Wisconsin