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December 25, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Photography Studios, Portrait Loan | ||||
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Innovative Bank
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Upper Marlboro (marlboro), Maryland Business Gets SBA-Guaranteed Funding from Innovative BankInnovative Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Upper Marlboro (marlboro), Maryland was able to borrow $5,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $4,250 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT 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 SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 5/1/2003 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Oakland, California Find an SBA Lender in California
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