Capital One SBA Loan to Commercial Equipment Merchant Wholesalers Company
Capital 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 Tennessee entrepreneur who tapped into the power of SBA loans.
This growing company knew how to go about getting a business bank loan. Based in Knoxville, Tennessee, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS
KNOXVILLE, TN 37932
SBA Loan Lender
CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
423440 - Commercial Equipment Merchant Wholesalers
Loan Approval Date
4/7/2006
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
How to Raise Money
Small Business Banks in Mclean, Virginia
SBA Lenders in Virginia