Oakland, California Bank Lends Money to Children's And Infants' Clothing Stores Company in Odum, Georgia

Thinking about meeting with an Oakland, California bank about a business loan? Here's one Georgia 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 company in Odum, Georgia. The business was able to get an SBA loan for $15,000. Great job!

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
ODUM, GA 31555

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 entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

3/14/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small business, 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:

Borrowing Money from Friends and Family

Small Business Banks in Oakland, California

California SBA Bank Lenders