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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Industrial Machinery And Equipment Merchant Wholesalers Loan | ||||
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Raising Money in Tempe, Arizona With SBA Loans
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Small Business Loans for Industrial Machinery and Equipment Merchant WholesalersLooking for small business loans for industrial machinery and equipment merchant wholesalers? Try the SBA. This $100,000 industrial machinery 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 Tempe, Arizona was able to borrow $100,000 from Capital One. The SBA made the loan possible by guaranteeing $50,000 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender CAPITAL ONE The lender provided this commercial 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 423830 - Industrial Machinery and Equipment Merchant Wholesalers Loan Approval Date 3/18/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 11 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Small Business Banks in Mclean, Virginia
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