Innovative Bank Gives Bank Loan to Manufacturing Company

Bank loans in Tennessee are tough to come by these days. We take a look at one Tennessee bank loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Pelham, Tennessee was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
PELHAM, TN 37366

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

10/11/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Pelham TN, you ought to talk with a local Pelham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pelham businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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