Gift, Novelty, and Souvenir Stores Loans

Looking for loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $110,200 gift, novelty, and souvenir stores loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glenview, Illinois was able to borrow $110,200 from First American Bank. The SBA made the loan possible by guaranteeing $93,670 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
GLENVIEW, IL 60025

SBA Loan Lender

FIRST AMERICAN BANK
1650 LOUIS AVE
ELK GROVE VILLAGE, IL 60007

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

10/29/2003

Loan Approval Gross Amount

$110,200

Loan Approval from the SBA

Of the total $110,200 loan amount, the SBA guaranteed $93,670.

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. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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 First American 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:

Small Business Credit Cards

SBA 7A Banks for Elk Grove Village, Illinois Loans

SBA Participating Banks in Illinois