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May 4, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Nail Salons Loan | ||||
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Raising Money in Staten Island, New York With SBA Loans
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Innovative Bank Gives Business Loan to Nail Salons CompanyNew YorkBusiness loans are available to New York business owners through the SBA. In this case, a California bank provides the loan. By giving the right information to Innovative Bank, this Staten Island, New York business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: NAIL SALONS SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812113 - Nail Salons Loan Approval Date 9/19/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan If you need business start up money in Staten Island NY, you ought to talk with a local Staten Island SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Staten Island businesses. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Innovative Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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