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May 3, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Warrior, Alabama?
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Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers LoansLooking for loans for lumber, plywood, millwork, and wood panel merchant wholesalers? Try the SBA. This $50,000 lumber, plywood, millwork, and wood panel merchant wholesalers loan was issued by a Virginia bank. Getting a small business loan in Warrior, Alabama was important for this growing firm back in 2005 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 Alabama small business loan. SBA Loan Borrower COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS 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 423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers Loan Approval Date 11/8/2005 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 13 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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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