How to Get a Loan for Gift, Novelty, and Souvenir Stores

Looking for business loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $162,400 gift, novelty, and souvenir stores loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Moss Landing, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Coast Comm. Bank A Division -, based in Santa Cruz, California.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
MOSS LANDING, CA 95039

SBA Loan Lender

COAST COMM. BANK A DIVISION -
75 RIVER ST
SANTA CRUZ, CA 95060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$162,400

Loan Approval from the SBA

Of the total $162,400 loan amount, the SBA guaranteed $121,800.

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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Advice on Getting a Small Business Loan

Small Business Banks in Santa Cruz, California

SBA Lenders in California