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December 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Lawyers Loan | ||||
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Raising Money in Montgomery, Texas With SBA Loans
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Financing for LawyersWith these loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $35,000 was given to a Texas entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Montgomery, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender CAPITAL ONE 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 541110 - Lawyers Loan Approval Date 9/21/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 loan application indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Dealing With Venture Capitalists Best Mclean, Virginia Banks for Small Business
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