Getting an SBA Loan for Motion Picture and Video Distribution

With these commercial loans for motion picture and video distribution, the SBA guarantees the lender that the loan will be repaid. This motion picture and video distribution loan for $15,000 was given to a California entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, California was able to borrow $15,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $12,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO DISTRIBUTION
LAKEWOOD, CA 90712

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512120 - Motion Picture and Video Distribution

Loan Approval Date

12/4/2007

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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.

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SBA Participating Banks in Oakland, California

California SBA 7A Lenders