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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Used Car Dealers Loan | ||||
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SBA 7A Banks for Grand Jct, Colorado Business Owners
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Commercial Loans for Used Car DealersWith these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $25,000 was given to a Colorado entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Grand Jct, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender CAPITAL ONE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 441120 - Used Car Dealers Loan Approval Date 2/1/2006 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Capital One and they will explain how you can get an SBA loan for your company. 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: Small Bank Loans in Mclean, Virginia
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