Innovative Bank Gives Bank Loan to Hardware Stores Company

Small business loans in Virginia are hard to find these days. We take a look at one Virginia small business loan, provided by a California bank, that was approved by the SBA.

You can learn something about getting a small business loan in Richmond, Virginia by studying this loan to a local company, made back in 2006. Banks like Innovative Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
RICHMOND, VA 23231

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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

444130 - Hardware Stores

Loan Approval Date

11/22/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 20 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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