Entrepreneur Works With Oakland, California Bank to Get an SBA Loan
Want to talk with an Oakland, California bank about a business loan? Here's one Florida business loan, issued by an Oakland bank, that was approved by the SBA.
Applying for an SBA loan with Innovative Bank worked out well for our friends at one local company in Bushnell, Florida. They received an SBA loan for $15,000. Great job!
SBA Loan Borrower
COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS
BUSHNELL, FL 33513
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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
531210 - Real Estate Agents and Brokers
Loan Approval Date
3/18/2003
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. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Alternative Financing
Best Oakland, California Banks for Small Business
Where to Get an SBA Loan California