Business Loan from Capital One Given to Bread, Cake, And Related Bakery Products Company
An SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Orleans, Louisiana business owner got a $40,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Orleans, Louisiana was able to borrow $40,000 from Capital One. The SBA made the loan possible by guaranteeing $32,000 of this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
NEW ORLEANS, LA 70118
SBA Loan Lender
CAPITAL ONE
1100 S CARROLLTON AVE
NEW ORLEANS, LA 70118
This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2051 - Bread, Cake, and Related Bakery Products
NAICS Code
311812 - Commercial Bakeries
Loan Approval Date
1/18/2000
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $32,000.
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. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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