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April 30, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Store Retailers Loan | ||||
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Tips for Businesses On Getting a Loan
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Financing for Store RetailersWith these commercial loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $5,000 was given to a Mississippi entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Hernando, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender INNOVATIVE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 10/12/2006 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. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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. While you may be able to borrow money from friends and family, 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: Small Bank Loans in Oakland, California
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