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November 24, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > General Automotive Repair Loan | ||||
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Capital One Small Business
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Newtown Square, Pennsylvania Business Gets SBA-Guaranteed Funding from Capital OneCapital One and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Newtown Square, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CAPITAL ONE The lender provided this bank 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 811111 - General Automotive Repair Loan Approval Date 5/23/2006 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Newtown Square PA, you ought to talk with a local Newtown Square SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newtown Square businesses. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Mclean, Virginia Find an SBA Lender in Virginia
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