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May 10, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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Capital One Commercial Loans
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How to Get a Loan for Electrical Contractors and Wiring Installation ContractorsLooking for business loans for electrical contractors and wiring installation contractors? Talk to a banker who works with the SBA. 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 Jupiter, Florida was able to borrow $35,000 from Capital One. The SBA made the loan possible by guaranteeing $17,500 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender CAPITAL ONE This lender processed this 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 7/18/2003 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. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 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. 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: The Friends and Family Network SBA 7A Banks for Mclean, Virginia Loans
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