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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Packaged Frozen Food Merchant Wholesalers Loan | ||||
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Midlothian, Virginia Bank Loan
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Midlothian, Virginia Entrepreneur Gets an SBA LoanWant a Virginia small business loan? This Virginia entrepreneur got a small business loan, provided by a Virginia bank that works with the SBA to help small business owners. This business, based in Midlothian, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PACKAGED FROZEN FOOD MERCHANT WHOLESALERS SBA Loan Lender CAPITAL ONE The lender provided this commercial loan 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 424420 - Packaged Frozen Food Merchant Wholesalers Loan Approval Date 10/7/2003 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 SBA Participating Banks in Virginia
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