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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Certified Public Accountants Loan | ||||
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SBA 7A Banks for Apple Valley, Minnesota Businesses
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Certified Public Accountants Business LoansWith these business loans for certified public accountants, the SBA guarantees the lender that the loan will be repaid. This certified public accountants loan for $15,000 was given to a Minnesota entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Apple Valley, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS 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 541211 - Certified Public Accountants Loan Approval Date 10/30/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: SBA 7A Banks for Mclean, Virginia Loans SBA Participating Banks in Virginia
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