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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Men's And Boys' Cut And Sew Suit, Coat, And Overcoat Manufacturing Loan | ||||
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How to Get SBA Loans in Houston, Texas
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SBA Loans for Men's and Boys' Cut and Sew Suit, Coat, and Overcoat ManufacturingWith these SBA loans for men's and boys' cut and sew suit, coat, and overcoat manufacturing, the SBA guarantees the lender that the loan will be repaid. This men's and boys' cut and sew suit, coat, and overcoat manufacturing loan for $35,000 was given to a Texas entrepreneur in 2007. Getting a small business loan in Houston, Texas was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank, operating out of Oakland, California. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW SUIT, COAT, AND OVERCOAT MANUFACTURING SBA Loan Lender INNOVATIVE BANK This business 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 315222 - Men's and Boys' Cut and Sew Suit, Coat, and Overcoat Manufacturing Loan Approval Date 12/3/2007 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Approved Banks in Oakland, California
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