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April 30, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Clothing Stores Loan | ||||
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Tennessee SBA Loan from Innovative Bank
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Business Loan from Innovative Bank Given to Clothing Stores CompanyInnovative Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chattanooga, Tennessee was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender INNOVATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 4/26/2006 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. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $10,000 loan. Remember, you control your own destiny. 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 Oakland, California Banks for Small Business
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