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November 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Trucking Loan | ||||
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How to Get an SBA Loan in Cincinnati, Ohio
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Ohio SBA Loan Issued to Trucking CompanyOhioBusiness loans are available to Ohio business owners through the SBA. In this case, a Virginia bank provides the loan. You can learn something about getting a small business loan in Cincinnati, Ohio by studying this loan to a local business, made back in 2002. Banks like Capital One may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: TRUCKING 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. SIC Code 4213 - Trucking NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 4/23/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 9 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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: Find an SBA Lender in Mclean, Virginia Getting an SBA Loan in Virginia
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