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May 3, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Institutional Furniture Manufacturing Loan | ||||
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Best Banks That Lend to Silver Spring Entrepreneurs
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Maryland Bank Loan Issued to Institutional Furniture Manufacturing CompanyMarylandBusiness loans are available to Maryland business owners through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in Silver Spring, Maryland by studying this loan to a local business, made back in 2004. Banks like Innovative Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING SBA Loan Lender INNOVATIVE BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 337127 - Institutional Furniture Manufacturing Loan Approval Date 10/25/2004 Loan Approval Gross Amount $6,000 Loan Approval from the SBA Of the total $6,000 loan amount, the SBA guaranteed $5,100. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Realistic Debt Financing Options SBA Approved Banks in Oakland, California Getting a Business Loan in California
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