SBA Loan from Innovative Bank Helps Painting And Wall Covering Contractors Company
Innovative Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oklahoma entrepreneur who tapped into the power of SBA loans.
This growing company knew how to go about getting a business bank loan. Based in Broken Arrow, Oklahoma, 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: PAINTING AND WALL COVERING CONTRACTORS
BROKEN ARROW, OK 74012
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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
238320 - Painting and Wall Covering Contractors
Loan Approval Date
2/23/2007
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $12,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 5 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you are wondering how to raise money for a business in Broken Arrow OK, you ought to talk with a local Broken Arrow SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Broken Arrow businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $15,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Equity Financing
SBA Banks in Oakland, California
SBA California Banks