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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Investment Advice Loan | ||||
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Mclean Bank Loan
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Mclean, Virginia Bank Lends Money to Investment Advice Company in Grand Rapids, MichiganGet to know Mclean, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Capital One is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Grand Rapids, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Capital One. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INVESTMENT ADVICE SBA Loan Lender CAPITAL ONE This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 523930 - Investment Advice Loan Approval Date 12/31/2002 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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. Related Links: The Friends and Family Network SBA Participating Banks in Mclean, Virginia Browse All Business Loan Sources for Virginia
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