Raising Money for Gift, Novelty, and Souvenir Stores

Looking for business loans for gift, novelty, and souvenir stores? Try the SBA. This $83,500 gift, novelty, and souvenir stores loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hampton, Virginia was able to borrow $83,500 from Consolidated Bank & Trust. The SBA made the loan possible by guaranteeing $70,975 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
HAMPTON, VA 23663

SBA Loan Lender

CONSOLIDATED BANK & TRUST
320 N 1ST ST
RICHMOND, VA 23219

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires 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.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$83,500

Loan Approval from the SBA

Of the total $83,500 loan amount, the SBA guaranteed $70,975.

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 business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Hampton VA, you ought to talk with a local Hampton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hampton businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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