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May 3, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Commercial And Institutional Building Construction Loan | ||||
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Get an SBA Loan in Jamaica, New York
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Innovative Bank Gives SBA Loan to Commercial And Institutional Building Construction CompanySBA loans in New York are tough to come by these days. We take a look at one New York SBA loan, provided by a California bank, that was approved by the SBA. This company, based in Jamaica, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Innovative Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236220 - Commercial and Institutional Building Construction Loan Approval Date 8/21/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Determining Proper Capital Structure for a Business Best Oakland, California Banks for Small Business SBA Participating Banks in California
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