SBA Loan from Capital One Helps General Automotive Repair Company
Capital One and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Detroit, Michigan was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Capital One, operating out of Mclean, Virginia. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
Detroit, MI 48238
SBA Loan Lender
CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
811111 - General Automotive Repair
Loan Approval Date
11/19/2004
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. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? 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:
How Equity Dilution Works
Where to Get an SBA Loan in Mclean, Virginia
Getting a Business Loan in Virginia