Gift, Novelty, and Souvenir Stores Business Loans
With these business 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 $200,000 was given to a California entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $200,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $150,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
LOS ANGELES, CA 90058
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
8/6/2004
Loan Approval Gross Amount
$200,000
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $150,000.
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 loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $200,000 loan. Remember, things become real when you believe you can achieve them!
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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SBA Participating Banks in Dallas, Texas
Getting an SBA Loan in Texas