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May 4, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Harnsberger Sports, LLC Dba Pr Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy a Pro Image FranchiseNeed money to buy a Pro Image franchise? Capital One has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Glen Burnie, Maryland needed money to invest in a Pro Image franchise back in 2005. Capital One issued an SBA franchise loan. Here are the details on this Maryland small business loan. SBA Loan Borrower HARNSBERGER SPORTS, LLC DBA PR SBA Loan Lender CAPITAL ONE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 451110 - Sporting Goods Stores Loan Approval Date 6/3/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Pro Image franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Dealing With Venture Capitalists Best Mclean, Virginia Banks for Small Business
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