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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Cardinal Bank Mclean Business Loans > Technical And Trade Schools Loan | ||||
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Mclean, Virginia SBA Banks
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Mclean, Virginia Bank Gives SBA Loan to Technical And Trade Schools CompanyGet to know Mclean, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Cardinal Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Annandale, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Cardinal Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS SBA Loan Lender CARDINAL BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611519 - Technical and Trade Schools Loan Approval Date 2/26/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cardinal Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: How Much Venture Capital Is There? Where to Get an SBA Loan in Mclean, Virginia
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