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April 27, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Specialty Food Stores Loan | ||||
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Innovative Bank
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SBA Loan from Innovative Bank Helps Specialty Food Stores CompanyAn SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Charlotte, North Carolina business owner got a $10,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charlotte, North Carolina was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES 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 American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 9/1/2005 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Oakland, California Find an SBA Lender in California
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