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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Car Washes Loan | ||||
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Oakland SBA Lenders
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Oakland, California Bank Lends Money to Car Washes Company in Studio City, CaliforniaWant to talk with an Oakland, California bank about an SBA loan? Here's one California business loan, issued by an Oakland bank, that was approved by the SBA. Applying for an SBA loan with Innovative Bank worked out well for our friends at one local company in Studio City, California. They got an SBA loan for $10,000. Great job! SBA Loan Borrower COMPANY TYPE: CAR WASHES 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 loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 9/24/2007 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. This SBA loan request indicated that the loan would help generate 5 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in Oakland, California
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