SBA Loan from Capital One Helps Furniture Stores Company

Capital One and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Hagerstown, Maryland, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Capital One, based in Mclean, Virginia.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
HAGERSTOWN, MD 21742

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This lender processed this SBA business 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

442110 - Furniture Stores

Loan Approval Date

6/25/2004

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Hagerstown MD, you ought to talk with a local Hagerstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hagerstown businesses.

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 From a Venture Capitalist

SBA Banks in Mclean, Virginia

Virginia SBA 7A Lenders