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May 9, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Raising Money in Westlake Village, California With SBA Loans
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Insurance Agencies and Brokerages Commercial LoansLooking for commercial loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $50,000 insurance agencies and brokerages loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Westlake Village, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender CAPITAL ONE This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 11/25/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: How Much Venture Capital Is There? Where to Get an SBA Loan in Mclean, Virginia Find an SBA Lender in Virginia
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