Commercial Loans for Prerecorded Tape, Compact Disc, and Record Stores
With these commercial loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $5,000 was given to a New York entrepreneur in 2005.
This business knew how to go about getting a business bank loan. Based in Saint Albans, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Innovative Bank, based in Oakland, California.
SBA Loan Borrower
COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
SAINT ALBANS, NY 11412
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
4/15/2005
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $4,250.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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.
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