Capital One SBA Loan to Plastics Materials And Basic Forms And Shapes Merchant Wholesalers Company
Capital One and the SBA work together to get business loans for growing small businesses. Here's an example of how a Montana entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Missoula, Montana was able to borrow $35,000 from Capital One. The SBA made the loan possible by guaranteeing $17,500 of this Montana small business loan.
SBA Loan Borrower
COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES MERCHANT WHOLESALERS
Missoula, MT 59801
SBA Loan Lender
CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers
Loan Approval Date
9/30/2004
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. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Obtaining Funding - How to Borrow Money
SBA Participating Banks in Mclean, Virginia
Getting a Business Loan in Virginia