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December 22, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Clothing Stores Loan | ||||
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Innovative Bank
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Broken Arrow, Oklahoma Business Gets SBA-Guaranteed Funding from Innovative BankAn SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Broken Arrow, Oklahoma business owner got a $10,000 loan. Getting a small business loan in Broken Arrow, Oklahoma was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank, operating out of Oakland, California. Here are the details on this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender INNOVATIVE BANK This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 9/29/2006 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 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 application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? 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. We've showcased information on this loan to let you know that businesses like yours 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: Where to Get an SBA Loan in Oakland, California Getting a Business Loan in California
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