Get an SBA Loan for Painting and Wall Covering Contractors

Looking for small business loans for painting and wall covering contractors? An SBA loan may be just what you've been looking for. This $75,000 painting and wall covering contractors loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Edwards, Colorado was able to borrow $75,000 from Capital One. The SBA made the loan possible by guaranteeing $63,750 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
EDWARDS, CO 81632

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

6/15/2004

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 31 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Attracting Investors

Find an SBA Lender in Mclean, Virginia

SBA Virginia Lenders