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May 11, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Cut Stone And Stone Product Manufacturing Loan | ||||
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Getting an SBA Loan for Cut Stone and Stone Product ManufacturingLooking for commercial loans for cut stone and stone product manufacturing? An SBA loan may be just what you've been looking for. This $25,000 cut stone and stone product manufacturing loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odem, Texas was able to borrow $25,000 from Capital One. The SBA made the loan possible by guaranteeing $21,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING SBA Loan Lender CAPITAL ONE This lender issued this particular SBA small business 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. NAICS Code 327991 - Cut Stone and Stone Product Manufacturing Loan Approval Date 2/18/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 19 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Who Lends Money to Small Businesses in Mclean, Virginia
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