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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Investment Advice Loan | ||||
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Small Business Banks for Santa Barbara Small Businesses
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Loans for Investment AdviceLooking for loans for investment advice? An SBA loan may be just what you've been looking for. This $150,000 investment advice loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Barbara, California was able to borrow $150,000 from Capital One. The SBA made the loan possible by guaranteeing $127,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: INVESTMENT ADVICE SBA Loan Lender CAPITAL ONE This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves 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. NAICS Code 523930 - Investment Advice Loan Approval Date 10/14/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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: Accountant's Role in Securing Financing SBA 7A Lenders in Mclean, Virginia
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