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November 21, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Capital One
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Business Loan from Capital One Given to Automotive Parts And Accessories Stores CompanyCapital One is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Louisiana entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Harvey, Louisiana, 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: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender CAPITAL ONE The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 441310 - Automotive Parts and Accessories Stores Loan Approval Date 9/21/2004 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. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Best Banks in Mclean, Virginia SBA Participating Banks in Virginia
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