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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Clothing Stores Loan | ||||
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We Needed a Commercial Loan in Covina, California and We Got One!
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Clothing Stores Commercial LoansWith these commercial loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $50,000 was given to a California entrepreneur in 2007. This business knew how to go about getting a business bank loan. Based in Covina, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender INNOVATIVE BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 5/22/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 no employees. This SBA loan request indicated that the funding would help create 1 new job. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, where there is a will, there is a way! 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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