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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Painting And Wall Covering Loan | ||||
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Innovative Bank Small Business
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Innovative Bank SBA Loan to Painting And Wall Covering CompanyAn SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bolingbrook, Illinois business owner got a $5,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bolingbrook, Illinois was able to borrow $5,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $4,250 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING SBA Loan Lender INNOVATIVE BANK This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 1/4/2005 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. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, 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. Related Links:
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