Innovative Bank Gives Small Business Loan to G S Variety Outlet

Virginia SBA loans are available to Virginia entrepreneurs through the SBA. In this case, a California bank provides the loan.

By giving the right information to Innovative Bank, this Newport News, Virginia business was able to get an SBA loan. To get this loan, G S Variety Outlet 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

G S Variety Outlet
5707 Jefferson Ave
NEWPORT NEWS, VA 23605

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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 commercial 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

453998 - All Other Miscellaneous Store Retailers (except Tobacco Stores)

Loan Approval Date

4/13/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower, G S Variety Outlet, 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.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this G S Variety Outlet 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 SBA loan database.

Related Links:

Startup Funding Tip

Find an SBA Lender in Oakland, California

California SBA Bank Lenders

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.