Small Business Loans for Gift, Novelty, and Souvenir Stores

Looking for small business loans for gift, novelty, and souvenir stores? The SBA may be the answer. This $54,000 gift, novelty, and souvenir stores loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pilgrim Bank, out of Mount Pleasant, Texas. The loan was granted and they received $54,000 to help grow their Mt. Pleasant, Texas business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
MT. PLEASANT, TX 75455

SBA Loan Lender

PILGRIM BANK
112 W 16TH ST
MOUNT PLEASANT, TX 75455

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

6/20/2002

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $45,900.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pilgrim Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pilgrim Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

SBA Banks in Mount Pleasant, Texas

Getting an SBA Loan in Texas