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May 5, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Independent Artists, Writers, And Performers Loan | ||||
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How to Get Commercial Loans in Munster, Indiana
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Innovative Bank Gives Small Business Loan to Independent Artists, Writers, And Performers CompanyIndianaSmall business loans are available to Indiana small business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in Munster, Indiana was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS SBA Loan Lender INNOVATIVE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 711510 - Independent Artists, Writers, and Performers Loan Approval Date 10/17/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 SBA 7A Banks in Oakland, California
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