Business Loan from Innovative Bank Given to Women, Children, And Infants Clothing And Accessories Merchant Wholesaler Company
An SBA loan from Innovative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Los Angeles, California business owner got a $699,000 loan.
This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Innovative Bank, out of Oakland, California. The loan was granted and they received $699,000 to help grow their Los Angeles, California business.
SBA Loan Borrower
COMPANY TYPE: WOMEN, CHILDREN, AND INFANTS CLOTHING AND ACCESSORIES MERCHANT WHOLESALER
LOS ANGELES, CA 90058
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
424330 - Women, Children, and Infants Clothing and Accessories Merchant Wholesaler
Loan Approval Date
4/26/2006
Loan Approval Gross Amount
$699,000
Loan Approval from the SBA
Of the total $699,000 loan amount, the SBA guaranteed $524,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
We can help you find the best banks for small businesses in Los Angeles 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:
Small Business Credit Cards
Best Banks in Oakland, California
Where to Get an SBA Loan California