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December 20, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Heavy And Civil Engineering Construction Loan | ||||
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SBA Loans from Capital One
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SBA Loan from Capital One Helps Heavy And Civil Engineering Construction CompanyCapital One is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Washington entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Capital One, out of Mclean, Virginia. The loan was granted and they received $150,000 to help grow their Covington, Washington business. SBA Loan Borrower COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237990 - Heavy and Civil Engineering Construction Loan Approval Date 5/29/2003 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 - Friends and Family Good Banks for Small Business in Mclean, Virginia
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