Get an SBA Loan for Coffee and Tea Manufacturing

Looking for small business loans for coffee and tea manufacturing? An SBA loan may be just what you've been looking for. This $15,000 coffee and tea manufacturing loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in Laurel, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Innovative Bank, based in Oakland, California.

SBA Loan Borrower

COMPANY TYPE: COFFEE AND TEA MANUFACTURING
LAUREL, MD 20723

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311920 - Coffee and Tea Manufacturing

Loan Approval Date

9/19/2006

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 a new business. This loan was not for 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 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Laurel MD, you ought to talk with a local Laurel SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Laurel businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

Banks in Oakland, California

Getting an SBA Loan in California