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May 11, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Capital One Petersburg, Michigan
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Business Loan from Capital One Given to Gasoline Stations With Convenience Stores CompanyCapital One and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Petersburg, Michigan was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Capital One, operating out of Mclean, Virginia. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender CAPITAL ONE 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 6/2/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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: SBA 7A Banks for Mclean, Virginia Loans
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