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November 23, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Service Establishment Equipment And Supplies Merchant Wholesalers Loan | ||||
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Oakland Lenders
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Oakland, California Bank Lends Money to Service Establishment Equipment And Supplies Merchant Wholesalers Company in Troy, MontanaWant to talk with an Oakland, California bank about a small business loan? Here's one Montana business loan, issued by an Oakland bank, that was approved by the SBA. Applying for an SBA loan with Innovative Bank worked out well for our friends at one local firm in Troy, Montana. They received an SBA loan for $10,000. Great job! SBA Loan Borrower COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender INNOVATIVE BANK 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 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 423850 - Service Establishment Equipment and Supplies Merchant Wholesalers Loan Approval Date 5/28/2003 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 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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