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December 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > New Single-Family Housing Construction Loan | ||||
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Advice for Small Businesses On Getting a Loan
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New Single-Family Housing Construction Bank LoansWith these bank loans for new single-family housing construction, the SBA guarantees the lender that the loan will be repaid. This new single-family housing construction loan for $25,000 was given to a Pennsylvania entrepreneur in 2008. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Irwin, Pennsylvania was able to borrow $25,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $21,250 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender INNOVATIVE BANK This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 236115 - New Single-Family Housing Construction Loan Approval Date 1/30/2008 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 an existing 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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:
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