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| Entrepreneur Resources | Innovative Bank Oakland Business Loans | ||||
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Raising Money in Newport News, Virginia With SBA Loans
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Computer Related Services Business LoansWith these business loans for computer related services, the SBA guarantees the lender that the loan will be repaid. This computer related services loan for $20,000 was given to a Virginia entrepreneur in 2007.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newport News, Virginia was able to borrow $20,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $17,000 of this Virginia small business loan. SBA Loan Borrower T & R Technology, Inc. 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 bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541519 - Other Computer Related Services Loan Approval Date 4/13/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. More Information on This SBA Loan The borrower, T & R Technology, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! 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. If T & R Technology, Inc. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Determining Proper Capital Structure for a Business SBA Approved Banks in Oakland, California Browse All Business Loan Sources for California 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.
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