Financing for General Merchandise Stores

Looking for loans for general merchandise stores? An SBA loan may be just what you've been looking for. This $10,000 general merchandise stores loan was issued by a California bank.

Getting a small business loan in Sugarhill, Georgia was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank, operating out of Oakland, California. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
SUGARHILL, GA 30518

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 commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

12/26/2007

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. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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