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May 13, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Marinas Loan | ||||
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What Does It Take to Get a Business Loan in Chattanooga, Tennessee?
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Where to Get Capital for MarinasLooking for small business loans for marinas? An SBA loan may be just what you've been looking for. This $50,000 marinas loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chattanooga, Tennessee was able to borrow $50,000 from Capital One. The SBA made the loan possible by guaranteeing $25,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MARINAS SBA Loan Lender CAPITAL ONE This lender processed this commercial 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 713930 - Marinas Loan Approval Date 8/5/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Who Lends Money to Small Businesses in Mclean, Virginia SBA Participating Banks in Virginia
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