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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > General Automotive Repair Loan | ||||
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Examples of Mentor SBA Loans
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Financing for General Automotive RepairLooking for commercial loans for general automotive repair? Try the SBA. This $15,000 general automotive repair loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Mentor, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CAPITAL ONE This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 811111 - General Automotive Repair Loan Approval Date 9/23/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Remember, 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Capital One and they will explain how you can get an SBA loan for your company. 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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