Innovative Bank Gives Bank Loan to Commercial Printing Company
SBA loans in California are hard to find these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA.
This business, based in San Francisco, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Innovative Bank. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL PRINTING
SAN FRANCISCO, CA 94103
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small 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
323119 - Commercial Printing
Loan Approval Date
9/13/2002
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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 21 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 21 existing jobs.
Next Steps for Getting an SBA Loan
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $10,000 loan. Remember, where there is a will, there is a way!
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:
Financing Your Business
SBA Approved Banks in Oakland, California
SBA Lenders in California