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May 1, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Manufacturing Loan | ||||
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Get Commercial Loans in Fairfax, Virginia
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Innovative Bank Gives Bank Loan to Manufacturing CompanyVirginiaBank loans are available to Virginia firms through the SBA. In this case, a California bank provides the loan. Getting a small business loan in Fairfax, Virginia was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURING 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 339999 - Manufacturing Loan Approval Date 10/29/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. 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 16 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 16 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Accountant's Role in Securing Financing SBA 7A Banks in Oakland, California
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