Gift, Novelty, and Souvenir Stores Bank Loans
With these bank 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 $10,000 was given to an Ohio entrepreneur in 2004.
This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with National City Bank, out of Cleveland, Ohio. The loan was granted and they received $10,000 to help grow their Canton, Ohio business.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
CANTON, OH 44707
SBA Loan Lender
NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114
The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
7/20/2004
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 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.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.
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:
Equity Financing
SBA Approved Banks in Cleveland, Ohio
Browse All Business Loan Sources for Ohio