Financing for Gift, Novelty, and Souvenir Stores

Looking for commercial loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $60,000 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 2005. They applied for an SBA loan with Merchants Bank, out of Winona, Minnesota. The loan was granted and they received $60,000 to help grow their Rochester, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
ROCHESTER, MN 55906

SBA Loan Lender

MERCHANTS BANK
102 E THIRD ST
WINONA, MN 55987

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.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

4/14/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Rochester MN, you ought to talk with a local Rochester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rochester businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Credit Evaluation

Where to Get an SBA Loan in Winona, Minnesota

SBA Minnesota Lenders