Oakland, California Bank Lends Money to Nondepository Credit Intermediation Company in Norman, North Carolina

Want to talk with an Oakland, California bank about a small business loan? Here's one North Carolina business loan, issued by an Oakland bank, that was approved by the SBA.

Applying for an SBA loan with Innovative Bank worked out well for our friends at one local business in Norman, North Carolina. The business was able to get an SBA loan for $10,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: NONDEPOSITORY CREDIT INTERMEDIATION
NORMAN, NC 28367

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

11/23/2005

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 only one employee. The SBA loan documents indicated that the borrowed money would help generate 1 new job.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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