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January 21, 2025 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Concrete Contractors Loan | ||||
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Who Lends Money to Hastings Small Businesses
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Capital One Gives Bank Loan to Concrete Contractors CompanyWould a Minnesota business loan help your company expand? If so, you may want to talk with this Virginia bank, which offers SBA loans to Minnesota entrepreneurs. You can learn something about getting a small business loan in Hastings, Minnesota by studying this loan to a local business, made back in 2003. Banks like Capital One may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: CONCRETE CONTRACTORS SBA Loan Lender CAPITAL ONE 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 235710 - Concrete Contractors Loan Approval Date 8/6/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 - Getting Venture Capital Best Mclean, Virginia Banks for Small Business
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