Mount Holly, New Jersey Business Gets SBA-Guaranteed Funding from Capital One
Capital One is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Holly, New Jersey was able to borrow $65,000 from Capital One. The SBA made the loan possible by guaranteeing $55,250 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: TAX RETURN PREPARATION SERVICES
MOUNT HOLLY, NJ 08054
SBA Loan Lender
CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7291 - Tax Return Preparation Services
NAICS Code
541213 - Tax Preparation Services
Loan Approval Date
11/20/2001
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $55,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $65,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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.
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