Entrepreneur Works With Oakland, California Bank to Get an SBA Loan
Thinking about meeting with an Oakland, California bank about an SBA loan? Here's one Indiana 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 company in Fishers (corporate Name For Fi, Indiana. They got an SBA loan for $10,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: DRYWALL, PLASTERING, ACOUSTICAL, AND INSULATION CONTRACTORS
FISHERS (CORPORATE NAME FOR FI, IN 46038
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235420 - Drywall, Plastering, Acoustical, and Insulation Contractors
Loan Approval Date
9/14/2005
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 8 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Innovative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Direct Public Offerings
Who Lends Money to Small Businesses in Oakland, California
SBA Participating Banks in California