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December 23, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Painting And Wall Covering Loan | ||||
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Oakland Bank Loan
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Oakland, California Bank Lends Money to Painting And Wall Covering Company in Memphis, TennesseeGet to know Oakland, California banks that specialize in SBA loans and know how to work with entrepreneurs. Innovative Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Memphis, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Innovative Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING SBA Loan Lender INNOVATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 6/26/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in Oakland, California
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