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December 25, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Small Business Loan Recipient Loan | ||||
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SBA Lender Covington Louisiana
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Raising Money for Ophthalmic Goods ManufacturingLooking for business loans for ophthalmic goods manufacturing? The SBA may be the answer. This $5,000 ophthalmic goods manufacturing loan was issued by a California bank. Getting a small business loan in Covington, Louisiana was important for this business back in 2005 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 Louisiana small business loan. SBA Loan Borrower SMALL BUSINESS LOAN RECIPIENT SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339115 - Ophthalmic Goods Manufacturing Loan Approval Date 5/12/2005 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $4,250. 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. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Getting Venture Capital SBA 7A Banks in Oakland, California
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