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May 5, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Retail Bakeries Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Retail Bakeries Small Business LoansLooking for small business loans for retail bakeries? Talk to a banker who works with the SBA. This $25,000 retail bakeries loan was issued by a Virginia bank. This company knew how to go about getting a business bank loan. Based in Reynoldsburg, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender CAPITAL ONE This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 311811 - Retail Bakeries Loan Approval Date 12/4/2003 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. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 Capital One 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: Obtaining Funding - Friends and Family
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