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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 > Building Equipment And Machinery Installation Contractors Loan | ||||
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Capital One Small Business Loans
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Business Loan from Capital One Given to Building Equipment And Machinery Installation Contractors CompanyCapital One is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Newark, Ohio, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT AND MACHINERY INSTALLATION CONTRACTORS 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 235950 - Building Equipment and Machinery Installation Contractors Loan Approval Date 12/4/2002 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. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 25 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: SBA Approved Banks in Mclean, Virginia
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