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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Limited-Service Restaurants Loan | ||||
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Good Banks for Ocean City Small Businesses
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Borrowing Money for Limited-Service RestaurantsLooking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $25,000 limited-service restaurants loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ocean City, New Jersey was able to borrow $25,000 from Capital One. The SBA made the loan possible by guaranteeing $12,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS 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 722211 - Limited-Service Restaurants Loan Approval Date 2/2/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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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