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May 2, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Used Car Dealers Loan | ||||
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Innovative Bank
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Business Loan from Innovative Bank Given to Used Car Dealers CompanyInnovative Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Louis, Missouri was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 4/16/2007 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a business in Saint Louis MO, you ought to talk with a local Saint Louis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Louis businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Banks in Oakland, California Getting an SBA Loan in California
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