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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Printing And Writing Paper Wholesalers Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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SBA Loans for Printing and Writing Paper WholesalersLooking for SBA loans for printing and writing paper wholesalers? The SBA may be the answer. This $15,000 printing and writing paper wholesalers loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Pharr, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Innovative Bank, based in Oakland, California. SBA Loan Borrower COMPANY TYPE: PRINTING AND WRITING PAPER WHOLESALERS SBA Loan Lender INNOVATIVE BANK This commercial 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 422110 - Printing and Writing Paper Wholesalers Loan Approval Date 11/10/2004 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $12,750. 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 generate 2 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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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