Gift, Novelty, and Souvenir Stores Bank Loans

Looking for bank loans for gift, novelty, and souvenir stores? The SBA may be the answer. This $36,180 gift, novelty, and souvenir stores loan was issued by an Ohio bank.

Getting a small business loan in Port Clinton, Ohio was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from National Bank - Oak Harbor, operating out of Oak Harbor, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
PORT CLINTON, OH 43452

SBA Loan Lender

NATIONAL BANK - OAK HARBOR
147 W WATER ST
OAK HARBOR, OH 43449

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.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

1/6/2000

Loan Approval Gross Amount

$36,180

Loan Approval from the SBA

Of the total $36,180 loan amount, the SBA guaranteed $28,944.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

The Friends and Family Network

Good Banks for Small Business in Oak Harbor, Ohio

Browse All Business Loan Sources for Ohio