Baltimore Highlands, Maryland Business Gets SBA-Guaranteed Funding from Innovative Bank
Innovative Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.
This business knew how to go about getting a business bank loan. Based in Baltimore Highlands, Maryland, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Innovative Bank, based in Oakland, California.
SBA Loan Borrower
COMPANY TYPE: PROMOTERS OF PERFORMING ARTS, SPORTS, AND SIMILAR EVENTS WITH FACILITIES
BALTIMORE HIGHLANDS, MD 21231
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
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
711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities
Loan Approval Date
7/25/2003
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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 5 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Innovative Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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