SBA Loans for Single Family Housing Construction
With these SBA loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $20,000 was given to a California entrepreneur in 2004.
This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Innovative Bank, out of Oakland, California. The loan was granted and they received $20,000 to help grow their San Francisco, California business.
SBA Loan Borrower
COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
SAN FRANCISCO, CA 94107
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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
233210 - Single Family Housing Construction
Loan Approval Date
3/24/2004
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. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you want money for new small business in San Francisco CA, you ought to talk with a local San Francisco SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Francisco businesses.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Innovative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
The Art of Bootstrapping
SBA Banks in Oakland, California
California SBA 7A Lenders