SBA Loan from Capital One Helps Certified Public Accountants Company

An SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmington, Michigan business owner got a $15,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Capital One, out of Mclean, Virginia. The loan was granted and they received $15,000 to help grow their Farmington, Michigan business.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
FARMINGTON, MI 48336

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

541211 - Certified Public Accountants

Loan Approval Date

10/31/2005

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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