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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > General Automotive Repair Loan | ||||
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Capital One Business Loan West Springfield (town Of), Massachusetts
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SBA Loan from Capital One Helps General Automotive Repair CompanyAn SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Springfield (town Of), Massachusetts business owner got a $25,000 loan. This business knew how to go about getting a business bank loan. Based in West Springfield (town Of), Massachusetts, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR 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 811111 - General Automotive Repair Loan Approval Date 10/10/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start business in West Springfield (town Of) MA, you ought to talk with a local West Springfield (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Springfield (town Of) businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Mclean, Virginia
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