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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Health Practitioners Loan | ||||
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Who Lends Money to Ofallon Small Business Owners
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Firm Gets a Missouri Bank LoanMissouriSmall business loans are available to Missouri small business owners through the SBA. In this case, a Virginia bank provides the loan. Getting a small business loan in Ofallon, Missouri was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: HEALTH PRACTITIONERS SBA Loan Lender CAPITAL ONE The lender provided this 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 621399 - Health Practitioners Loan Approval Date 10/25/2006 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 19 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 19 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Approved Banks in Mclean, Virginia
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