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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Clothing Stores Loan | ||||
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Oakland, California SBA Lenders
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Oakland, California Bank Lends Money to Clothing Stores Company in Chicago, IllinoisWant to talk with an Oakland, California bank about a small business loan? Here's one Illinois 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 firm in Chicago, Illinois. They got an SBA loan for $15,000. Great job! SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender INNOVATIVE BANK This lender issued this bank loan under the SBA's 7A loan, 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 448190 - Clothing Stores Loan Approval Date 10/5/2007 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help generate 14 new jobs and retain 30 existing jobs. 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Innovative Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Approved Banks in Oakland, California
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