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April 27, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Institutional Furniture Manufacturing Loan | ||||
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Innovative Bank
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Baltimore Highlands, Maryland Business Gets SBA-Guaranteed Funding from Innovative BankAn SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Baltimore Highlands, Maryland business owner got a $10,000 loan. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Innovative Bank, out of Oakland, California. The loan was granted and they received $10,000 to help grow their Baltimore Highlands, Maryland business. SBA Loan Borrower COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business 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 337127 - Institutional Furniture Manufacturing Loan Approval Date 12/19/2003 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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $10,000 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. Related Links: Good Banks for Small Business in Oakland, California SBA Participating Banks in California
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