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December 25, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Women's Clothing Stores Loan | ||||
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Innovative Bank Business Loan
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Business Loan from Innovative Bank Given to Women's Clothing Stores CompanyInnovative 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 Virginia entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Staunton, Virginia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender INNOVATIVE BANK This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 448120 - Women's Clothing Stores Loan Approval Date 9/2/2004 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $5,000. How would you spend $5,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Dealing With Venture Capitalists SBA Participating Banks in Oakland, California
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