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November 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Commercial Equipment Merchant Wholesalers Loan | ||||
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Mclean Lenders
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Mclean, Virginia Bank Lends Money to Commercial Equipment Merchant Wholesalers Company in Cookeville, TennesseeWant to talk with a Mclean, Virginia bank about a business loan? Here's one Tennessee business loan, issued by a Mclean bank, that was approved by the SBA. Applying for an SBA loan with Capital One worked out well for our friends at one local firm in Cookeville, Tennessee. They received an SBA loan for $75,000. Great job! SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender CAPITAL ONE This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423440 - Commercial Equipment Merchant Wholesalers Loan Approval Date 10/24/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Obtaining Funding From a Venture Capitalist Small Bank Loans in Mclean, Virginia
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