Innovative Bank Gives Small Business Loan to Apparel Accessories And Other Apparel Manufacturing Company
Looking to get a California SBA loan? This California entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners.
Getting a small business loan in Oakland, California was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
OAKLAND, CA 94605
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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
315999 - Apparel Accessories and Other Apparel Manufacturing
Loan Approval Date
6/26/2002
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 an existing 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
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:
How to Raise Money
SBA 7A Banks for Oakland, California Loans
SBA California Banks