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December 25, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Barber Shops Loan | ||||
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Who Lends Money to Duluth Business Owners
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Firm Gets a Georgia SBA LoanLooking to get a Georgia small business loan? This Georgia entrepreneur got a small business loan, provided by a California bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Duluth, Georgia by studying this loan to a local company, made back in 2007. Banks like Innovative Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: BARBER SHOPS SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812111 - Barber Shops Loan Approval Date 10/12/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Who Lends Money to Small Businesses in Oakland, California
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