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May 2, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Radio, Television, And Electronics Stores Loan | ||||
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Getting an SBA Loan from Capital One
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SBA Loan from Capital One Helps Radio, Television, And Electronics Stores 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 Virginia entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Virginia Beach, Virginia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS 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 443112 - Radio, Television, and Electronics Stores Loan Approval Date 11/29/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Mclean, Virginia
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