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April 23, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Grocery And Related Products Merchant Wholesalers Loan | ||||
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Getting a Small Business Loan from Capital One
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SBA Loan from Capital One Helps Grocery And Related Products Merchant Wholesalers CompanyAn SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lowell, Massachusetts business owner got a $50,000 loan. This growing company knew how to go about getting a business bank loan. Based in Lowell, Massachusetts, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS SBA Loan Lender CAPITAL ONE The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 424490 - Grocery and Related Products Merchant Wholesalers Loan Approval Date 11/10/2004 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Lenders in Mclean, Virginia
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