 |
 |
November 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > General Freight Trucking, Local Loan | ||||
 |
||||
Tennessee Small Business Funding
|
||||
 |
Borrowing Money for General Freight Trucking, LocalWith these small business loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $20,000 was given to a Tennessee entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Knoxville, Tennessee was able to borrow $20,000 from Capital One. The SBA made the loan possible by guaranteeing $10,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender CAPITAL ONE This lender processed this bank 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 484110 - General Freight Trucking, Local Loan Approval Date 2/14/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source Best Banks for Small Business in Mclean, Virginia
|
|
||
|
||||
|
|
||||