Where to Get Capital for Gift, Novelty, and Souvenir Stores

Looking for SBA loans for gift, novelty, and souvenir stores? The SBA may be the answer. This $44,000 gift, novelty, and souvenir stores loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yorktown, Virginia was able to borrow $44,000 from Townebank. The SBA made the loan possible by guaranteeing $37,400 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
YORKTOWN, VA 23693

SBA Loan Lender

TOWNEBANK
1 OLD OYSTER POINT RD, STE 10
NEWPORT NEWS, VA 23602

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

1/29/2001

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $37,400.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Townebank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Where to Get an SBA Loan in Newport News, Virginia

Virginia SBA 7A Banks