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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Used Car Dealers Loan | ||||
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Illinois Small Business Funding
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Getting an SBA Loan for Used Car DealersLooking for commercial loans for used car dealers? Talk to a banker who works with the SBA. This $50,000 used car dealers loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Galesburg, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender CAPITAL ONE This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 8/31/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Best Banks in Mclean, Virginia Getting an SBA Loan in Virginia
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