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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Used Car Dealers Loan | ||||
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Illinois Small Business Funding
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Used Car Dealers Commercial LoansWith these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $25,000 was given to an Illinois entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Collinsville, Illinois was able to borrow $25,000 from Capital One. The SBA made the loan possible by guaranteeing $12,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender CAPITAL ONE This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 441120 - Used Car Dealers Loan Approval Date 12/20/2002 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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Accountant's Role in Securing Financing SBA Participating Banks in Mclean, Virginia
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