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May 11, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Farm Supplies Merchant Wholesalers Loan | ||||
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Mclean Bank Loan
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Mclean, Virginia Lender Lends Money to Farm Supplies Merchant Wholesalers CompanyWant to talk with a Mclean, Virginia bank about a small business loan? Here's one Pennsylvania business loan, issued by a Mclean bank, that was approved by the SBA. Applying for an SBA loan with Capital One worked out well for our friends at one local firm in Downingtown, Pennsylvania. The business was able to get an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS 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 424910 - Farm Supplies Merchant Wholesalers Loan Approval Date 12/7/2004 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 10 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Capital One and they will explain how you can get an SBA loan for your company. 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
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