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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Computer Systems Design Services Loan | ||||
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Innovative Bank
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SBA Loan from Innovative Bank Helps Computer Systems Design Services CompanyInnovative Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Oak Park, Illinois, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES SBA Loan Lender INNOVATIVE BANK This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 3/1/2005 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Innovative Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Lenders in Oakland, California
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