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February 22, 2025 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Transportation Equipment And Supplies Wholesalers Loan | ||||
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SBA Lender Pasadena California
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Transportation Equipment and Supplies Wholesalers Bank LoansLooking for bank loans for transportation equipment and supplies wholesalers? Try the SBA. This $150,000 transportation equipment and supplies wholesalers loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pasadena, California was able to borrow $150,000 from Capital One. The SBA made the loan possible by guaranteeing $127,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender CAPITAL ONE This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421860 - Transportation Equipment and Supplies Wholesalers Loan Approval Date 7/24/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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: Raising VC Money for Social Networking Companies Best Mclean, Virginia Banks for Small Business
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