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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Lawyers Loan | ||||
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How Hard Is It to Get a Small Business Loan in Cambridge, Massachusetts?
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Small Business Loans for LawyersWith these small business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $15,000 was given to a Massachusetts entrepreneur in 2006. This company knew how to go about getting a business bank loan. Based in Cambridge, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: LAWYERS 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 541110 - Lawyers Loan Approval Date 11/15/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Approved Banks in Mclean, Virginia
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