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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Radio, Television, And Electronics Stores Loan | ||||
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Michigan Small Business Funding
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Where to Get Capital for Radio, Television, and Electronics StoresLooking for SBA loans for radio, television, and electronics stores? The SBA may be the answer. This $25,000 radio, television, and electronics stores loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Michigan Center, Michigan was able to borrow $25,000 from Capital One. The SBA made the loan possible by guaranteeing $12,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES SBA Loan Lender CAPITAL ONE This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 443112 - Radio, Television, and Electronics Stores Loan Approval Date 12/20/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records 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 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business If you need business start up money in Michigan Center MI, you ought to talk with a local Michigan Center SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Michigan Center businesses. 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: Determining Proper Capital Structure for a Business Best Banks in Mclean, Virginia
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