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November 21, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Clothing Accessories Stores Loan | ||||
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Business Loan from Innovative Bank
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Business Loan from Innovative Bank Given to Clothing Accessories Stores CompanyInnovative Bank has a track record as a leading provider of SBA loans. Find out how this District of Columbia entrepreneur received an SBA loan from them. Getting a small business loan in Washington, District of Columbia was an essential business goal for this firm back in 2008 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 District of Columbia small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING ACCESSORIES STORES 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 448150 - Clothing Accessories Stores Loan Approval Date 2/27/2008 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, 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. 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: SBA 7A Lenders in Oakland, California
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