Raising Money for Gift, Novelty, and Souvenir Stores

Looking for business loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $338,500 gift, novelty, and souvenir stores loan was issued by a Mississippi bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Hancock Bank, out of Gulfport, Mississippi. The loan was granted and they received $338,500 to help grow their Ocean Springs, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
OCEAN SPRINGS, MS 39564

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This bank loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

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

6/13/2002

Loan Approval Gross Amount

$338,500

Loan Approval from the SBA

Of the total $338,500 loan amount, the SBA guaranteed $169,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hancock Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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