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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Support Services Loan | ||||
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Innovative Bank
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Elk Grove, California Business Gets SBA-Guaranteed Funding from Innovative BankAn SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elk Grove, California business owner got a $5,000 loan. This small firm knew how to go about getting a business bank loan. Based in Elk Grove, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES SBA Loan Lender INNOVATIVE BANK This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 561990 - Support Services Loan Approval Date 7/29/2002 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. 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 SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Find an SBA Lender in Oakland, California SBA Participating Banks in California
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