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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Prepackaged Software Loan | ||||
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MN SBA Loan from Capital One
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Capital One SBA Loan to Prepackaged Software CompanyCapital 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 Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Mankato, Minnesota was able to borrow $50,000 from Capital One. The SBA made the loan possible by guaranteeing $42,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PREPACKAGED SOFTWARE SBA Loan Lender CAPITAL ONE This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7372 - Prepackaged Software NAICS Code 511210 - Software Publishers Loan Approval Date 8/5/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Mclean, Virginia
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