SBA Loan from Innovative Bank Helps Commercial And Service Industry Machinery Manufacturing Company
Innovative Bank has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them.
Getting a small business loan in Munford, Tennessee was an essential business goal for this firm back in 2006 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 Tennessee small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
MUNFORD, TN 38058
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 business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
333319 - Commercial and Service Industry Machinery Manufacturing
Loan Approval Date
5/10/2006
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $4,250.
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. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Innovative Bank and they will explain how you can get an SBA loan for your company.
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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