Financing for Electronic Parts and Equipment Merchant Wholesalers
Looking for loans for electronic parts and equipment merchant wholesalers? An SBA loan may be just what you've been looking for. This $50,000 electronic parts and equipment merchant wholesalers loan was issued by a Virginia bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Novi, Michigan was able to borrow $50,000 from Capital One Bank (usa). The SBA made the loan possible by guaranteeing $25,000 of this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS
NOVI, MI 48375
SBA Loan Lender
CAPITAL ONE BANK (USA)
4851 COX RD
GLEN ALLEN, VA 23060
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
423690 - Electronic Parts and Equipment Merchant Wholesalers
Loan Approval Date
12/7/2007
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. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, anyone can do it... so why not you?
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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SBA 7A Banks in Glen Allen, Virginia
Virginia SBA 7A Banks