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November 23, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Store Retailers Loan | ||||
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NC Business Loans from Innovative Bank
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SBA Loan from Innovative Bank Helps Store Retailers CompanyInnovative 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 North Carolina entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Charlotte, North Carolina was an essential business goal for this firm 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 North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender INNOVATIVE BANK This lender issued this SBA small business loan under the SBA 7A lending 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 453998 - Store Retailers Loan Approval Date 2/23/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business If you need business start up money in Charlotte NC, you ought to talk with a local Charlotte SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charlotte businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Innovative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Business Banks in Oakland, California
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