 |
 |
December 22, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Interior Design Services Loan | ||||
 |
||||
Virginia SBA Banks
|
||||
 |
Mclean, Virginia Bank Lends Money to Interior Design Services Company in Montrose, MichiganWant to talk with a Mclean, Virginia bank about an SBA loan? Here's one Michigan business loan, issued by a Mclean bank, that was approved by the SBA. Applying for an SBA loan with Capital One worked out well for our friends at one local business in Montrose, Michigan. They received an SBA loan for $15,000. Way to go! SBA Loan Borrower COMPANY TYPE: INTERIOR DESIGN SERVICES SBA Loan Lender CAPITAL ONE The lender provided this SBA 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 541410 - Interior Design Services Loan Approval Date 2/21/2007 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 a new business. The SBA's records indicate that the loan was not for investment in 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. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Accountant's Role in Securing Financing Best Mclean, Virginia Banks for Small Business
|
|
||
|
||||
|
|
||||