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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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Innovative Bank
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Grove City, Ohio 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, a Grove City, Ohio business owner got a $15,000 loan. Getting a small business loan in Grove City, Ohio was an essential business goal for this firm back in 2007 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 Ohio small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender INNOVATIVE BANK This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 6/15/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you need business start up money in Grove City OH, you ought to talk with a local Grove City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grove City businesses. 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: Best Oakland, California Banks for Small Business Browse All Business Loan Sources for California
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