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May 10, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Grocery And Related Products Merchant Wholesalers Loan | ||||
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Banks Doing SBA Loans in Virginia
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Mclean, Virginia Lender Lends Money to Grocery And Related Products Merchant Wholesalers CompanyThinking about meeting with a Mclean, Virginia bank about an SBA loan? Here's one Georgia 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 Montezuma, Georgia. They got an SBA loan for $25,000. Sweet! 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 8/22/2007 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source Best Mclean, Virginia Banks for Small Business Getting a Business Loan in Virginia
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