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May 10, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Electrical Contractors and Wiring Installation Contractors SBA LoansLooking for SBA loans for electrical contractors and wiring installation contractors? The SBA may be the answer. This $35,000 electrical contractors and wiring installation contractors loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, Kentucky was able to borrow $35,000 from Capital One. The SBA made the loan possible by guaranteeing $17,500 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender CAPITAL ONE This lender processed this 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 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 6/2/2005 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Mclean, Virginia Banks for Small Business Browse All Business Loan Sources for Virginia
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