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December 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Wet Corn Milling Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Commercial Loans for Wet Corn MillingLooking for commercial loans for wet corn milling? Try the SBA. This $75,000 wet corn milling loan was issued by a Virginia bank. This small business knew how to go about getting a business bank loan. Based in Walnut, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: WET CORN MILLING 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 311221 - Wet Corn Milling Loan Approval Date 8/9/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 18 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Realistic Debt Financing Options SBA Participating Banks in Mclean, Virginia Getting an SBA Loan in Virginia
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