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April 25, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Services To Buildings And Dwellings Loan | ||||
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California SBA Banks
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Oakland, California Lender Lends Money to Services To Buildings And Dwellings CompanyThinking about meeting with an Oakland, California bank about a business loan? Here's one Alabama 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 business in Birmingham, Alabama. They received an SBA loan for $25,000. Way to go! SBA Loan Borrower COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS 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 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 561790 - Services to Buildings and Dwellings Loan Approval Date 10/12/2006 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 14 existing jobs. Next Steps for Getting an SBA Loan If you have been wondering how do i get money to start a business in Birmingham AL, you ought to talk with a local Birmingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Birmingham businesses. 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: SBA Approved Banks in Oakland, California
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