Gift, Novelty, and Souvenir Stores Business Loans
With these business loans for gift, novelty, and souvenir stores, the SBA guarantees the lender that the loan will be repaid. This gift, novelty, and souvenir stores loan for $112,000 was given to a Pennsylvania entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Erie, Pennsylvania was able to borrow $112,000 from National City Bank. The SBA made the loan possible by guaranteeing $95,200 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
ERIE, PA 16506
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
5947 - Gift, Novelty, and Souvenir Shops
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $112,000 loan amount, the SBA guaranteed $95,200.
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 documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
We can help you find the best banks for small businesses in Erie or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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