Virginia Business Loan Issued to Jani King

Would a Virginia SBA loan help your business get to the next level? If so, you may want to talk with this California bank, which offers SBA loans to Virginia entrepreneurs.

Getting a small business loan in Newport News, Virginia was a top priority for Jani King back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this Virginia small business loan.

SBA Loan Borrower

JANI KING
589 22ND STREET
NEWPORT NEWS, VA 23607

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

561790 - Other Services to Buildings and Dwellings

Loan Approval Date

5/26/2006

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, Jani King, borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Innovative Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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