Bank Loans for News Dealers and Newsstands
Looking for bank loans for news dealers and newsstands? Try the SBA. This $10,000 news dealers and newsstands loan was issued by a California bank.
This small firm knew how to go about getting a business bank loan. Based in Baltimore Highlands, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Innovative Bank, based in Oakland, California.
SBA Loan Borrower
COMPANY TYPE: NEWS DEALERS AND NEWSSTANDS
BALTIMORE HIGHLANDS, MD 21207
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451212 - News Dealers and Newsstands
Loan Approval Date
11/25/2003
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $8,500.
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 2 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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 Art of Bootstrapping
SBA 7A Banks for Oakland, California Loans
Getting an SBA Loan in California