General Merchandise Stores Commercial Loans

With these commercial loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $100,000 was given to a California entrepreneur in 2003.

This small business 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 $100,000 to help grow their Garberville, California business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
GARBERVILLE, CA 95542

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 10 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 - How to Borrow Money

Best Banks for Small Business in Mclean, Virginia

Find an SBA Lender in Virginia