Borrow Money to Buy a Hallmark Card Shop Franchise

Need money to purchase a Hallmark Card Shop franchise? Chemical Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Hallmark Card Shop franchise requires some effort but others before you have been successful. In 2005, Chemical Bank issued an SBA franchise loan to an entrepreneur in Owosso, Michigan. Because Hallmark Card Shop was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWE'S HALLMARK
OWOSSO, MI 48867

SBA Loan Lender

CHEMICAL BANK
100 E MAIN ST
OWOSSO, MI 48867

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

4/4/2005

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hallmark Card Shop franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Chemical Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Hallmark Card Shop

Strategic Investors

Small Business Banks in Owosso, Michigan

Michigan SBA 7A Lenders