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December 22, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Sawmill And Woodworking Machinery Manufacturing Loan | ||||
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Big Timber, Montana Bank for SBA Loans
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Montana SBA Loan Issued to Sawmill And Woodworking Machinery Manufacturing CompanyMontanaSBA loans are available to Montana entrepreneurs through the SBA. In this case, a Virginia bank provides the loan. By giving the right information to Capital One, this Big Timber, Montana business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SAWMILL AND WOODWORKING MACHINERY MANUFACTURING 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 333210 - Sawmill and Woodworking Machinery Manufacturing Loan Approval Date 11/20/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan 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. 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: Small Bank Loans in Mclean, Virginia
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