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November 21, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Traveler Accommodation Loan | ||||
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Business Loan from Innovative Bank
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Business Loan from Innovative Bank Given to Traveler Accommodation CompanyInnovative Bank has a track record as a leading provider of SBA loans. Find out how this Oklahoma entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Tahlequah, Oklahoma, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: TRAVELER ACCOMMODATION SBA Loan Lender INNOVATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721199 - Traveler Accommodation Loan Approval Date 11/15/2006 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: A Company That Helps Entrepreneurs Find an SBA Lender in Oakland, California
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