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May 5, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Atlanta, Business Loans > Suntrust Bank Atlanta Business Loans > Gift, Novelty, And Souvenir Shops Loan | ||||
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Sarasota, Florida Bank for SBA Loans
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Commercial Loans for Gift, Novelty, and Souvenir StoresLooking for commercial loans for gift, novelty, and souvenir stores? The SBA may be the answer. This $50,000 gift, novelty, and souvenir stores loan was issued by a Georgia bank. This business knew how to go about getting a business bank loan. Based in Sarasota, Florida, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Suntrust Bank, based in Atlanta, Georgia. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS SBA Loan Lender SUNTRUST BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 6/26/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 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. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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:
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