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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Farm Supplies Merchant Wholesalers Loan | ||||
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Texas Small Business Loans from Capital One
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Business Loan from Capital One Given to Farm Supplies Merchant Wholesalers CompanyAn SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Blanco, Texas business owner got a $50,000 loan. This growing company knew how to go about getting a business bank loan. Based in Blanco, Texas, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender CAPITAL ONE The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 424910 - Farm Supplies Merchant Wholesalers Loan Approval Date 10/29/2003 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. 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. 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: Dealing With Venture Capitalists Good Banks for Small Business in Mclean, Virginia
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