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November 14, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Security Systems Services Loan | ||||
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Capital One Business Loan Newport News
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Capital One SBA Loan to Security Systems Services CompanyCapital One has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newport News, Virginia was able to borrow $35,000 from Capital One. The SBA made the loan possible by guaranteeing $17,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES SBA Loan Lender CAPITAL ONE The lender provided this SBA small business 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 561621 - Security Systems Services Loan Approval Date 11/6/2006 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Newport News VA, you ought to talk with a local Newport News SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newport News businesses. 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:
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