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November 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Drycleaning And Laundry Services Loan | ||||
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Innovative Bank
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Business Loan from Innovative Bank Given to Drycleaning And Laundry Services CompanyInnovative Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Arlington, Texas, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 11/26/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, feel the fear, and do it anyway. 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: SBA Participating Banks in Oakland, California
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