SBA Loan from Innovative Bank Helps Single Family Housing Construction Company

Innovative Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Louisiana entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shreveport, Louisiana was able to borrow $5,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $4,250 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
SHREVEPORT, LA 71101

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 American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

2/28/2005

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. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Oakland, California

California SBA 7A Lenders