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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Turbine And Turbine Generator Set Units Manufacturing Loan | ||||
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Mclean Lenders
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Mclean, Virginia Bank Gives SBA Loan to Turbine And Turbine Generator Set Units Manufacturing CompanyThinking about meeting with a Mclean, Virginia bank about a small business loan? Here's one Minnesota 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 company in Minneapolis, Minnesota. They got an SBA loan for $25,000. Nice! SBA Loan Borrower COMPANY TYPE: TURBINE AND TURBINE GENERATOR SET UNITS MANUFACTURING SBA Loan Lender CAPITAL ONE The lender provided this business 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 333611 - Turbine and Turbine Generator Set Units Manufacturing Loan Approval Date 12/12/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 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. While you may be able to find business people willing to loan money, 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: Best Banks for Small Business in Mclean, Virginia Browse All Business Loan Sources for Virginia
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