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April 29, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Shoe Stores Loan | ||||
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Business Loans for Bala-Cynwyd (rr Name Cynwyd) Business Owners
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Shoe Stores SBA LoansWith these SBA loans for shoe stores, the SBA guarantees the lender that the loan will be repaid. This shoe stores loan for $10,000 was given to a Pennsylvania entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bala-Cynwyd (rr Name Cynwyd), Pennsylvania was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448210 - Shoe Stores Loan Approval Date 3/2/2004 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Innovative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks in Oakland, California
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