Financing for Building Material Dealers

With these commercial loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $15,000 was given to a Louisiana entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Slidell, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Innovative Bank, based in Oakland, California.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
SLIDELL, LA 70458

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 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

444190 - Building Material Dealers

Loan Approval Date

12/29/2004

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

The Art of Bootstrapping

Small Business Banks in Oakland, California

California SBA 7A Lenders