Mclean, Virginia Bank Lends Money to Frozen Fruit, Juice, And Vegetable Manufacturing Company in Springfield, Illinois

Get to know Mclean, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Capital One is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Springfield, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Capital One. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FROZEN FRUIT, JUICE, AND VEGETABLE MANUFACTURING
SPRINGFIELD, IL 62707

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

311411 - Frozen Fruit, Juice, and Vegetable Manufacturing

Loan Approval Date

6/28/2004

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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Capital One and they will explain how you can get an SBA loan for your company.

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.

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