Entrepreneur Works With Mclean, Virginia Bank to Get an SBA Loan

A Mclean, Virginia business loan can be yours. Learn how Mcbride's Paper Clip, Inc. Dba got a $50,000 business loan from this Virginia bank.

This loan to Mcbride's Paper Clip, Inc. Dba is a good example of an SBA loan. Capital One made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

MCBRIDE'S PAPER CLIP, INC. DBA
3411 RANCH ROAD 620 N
AUSTIN, TX 78734

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

The lender provided this SBA 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

453210 - Office Supplies and Stationery

Loan Approval Date

6/3/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower, Mcbride's Paper Clip, Inc. Dba, 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. This loan was paid in full, and was closed out on 1/3/2008.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Mcbride's Paper Clip, Inc. Dba walked into Capital One and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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Small Business Banks in Mclean, Virginia

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If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.