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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > No Industry Type Specified Loan | ||||
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California Bank SBA Loans
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Innovative Bank SBA Loan to No Industry Type Specified CompanyWant a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Frazee, Minnesota was able to borrow $5,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $4,250 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED SBA Loan Lender INNOVATIVE BANK This lender issued this bank loan under the 7A SBA 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 Loan Approval Date 4/21/2004 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. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money We can help you find the best banks for small businesses in Frazee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Borrowing Money from Friends and Family SBA 7A Banks in Oakland, California Getting an SBA Loan in California
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