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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Beauty Salons Loan | ||||
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Small Business Banks for West Allis Businesses
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Growing Company Gets a Wisconsin Business LoanWisconsinBank loans are available to Wisconsin firms through the SBA. In this case, a Virginia bank provides the loan. This business, based in West Allis, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One. We've got the inside scoop on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS 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 812112 - Beauty Salons Loan Approval Date 5/11/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source 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:
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