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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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I Need an SBA Loan in San Rafael, California
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Commercial Loans for Electrical Contractors and Wiring Installation ContractorsWith these commercial loans for electrical contractors and wiring installation contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors and wiring installation contractors loan for $75,000 was given to a California entrepreneur in 2004. This small business knew how to go about getting a business bank loan. Based in San Rafael, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender CAPITAL ONE This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 6/17/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Capital One had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Capital One made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Participating Banks in Virginia
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