Small Business Loans for Commercial and Institutional Building Construction

With these small business loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $15,000 was given to a North Carolina entrepreneur in 2008.

This small firm knew how to go about getting a business bank loan. Based in Gastonia, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Innovative Bank, based in Oakland, California.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
GASTONIA, NC 28052

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

236220 - Commercial and Institutional Building Construction

Loan Approval Date

2/19/2008

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Gastonia NC, you ought to talk with a local Gastonia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gastonia businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Bank Credit Lines

SBA 7A Banks for Oakland, California Loans

SBA California Banks