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November 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Home Furnishing Merchant Wholesalers Loan | ||||
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Banks Doing SBA Loans in California
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Oakland, California Bank Gives SBA Loan to Home Furnishing Merchant Wholesalers CompanyWant to talk with an Oakland, California bank about an SBA loan? Here's one Maryland 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 Upper Marlboro (marlboro), Maryland. The business was able to get an SBA loan for $10,000. Nice! SBA Loan Borrower COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS SBA Loan Lender INNOVATIVE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423220 - Home Furnishing Merchant Wholesalers Loan Approval Date 3/14/2003 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 15 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $10,000. How would you spend $10,000 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: Microlending as a Small Business Funding Source SBA 7A Lenders in Oakland, California
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