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| Entrepreneur Resources | Capital One Mclean Business Loans | ||||
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How to Get SBA Loans in Austin, Texas
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Bank Loans for Insurance Agencies and BrokeragesLooking for bank loans for insurance agencies and brokerages? Talk to a banker who works with the SBA. This $25,000 insurance agencies and brokerages loan was issued by a Virginia bank.
Mike Pennington Insurance Agency, Inc. knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Capital One, based in Mclean, Virginia. SBA Loan Borrower MIKE PENNINGTON INSURANCE AGENCY, INC. 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 524210 - Insurance Agencies and Brokerages Loan Approval Date 10/4/2005 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, Mike Pennington Insurance Agency, Inc., 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 SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source 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 Mike Pennington Insurance Agency, Inc. 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. Related Links: Realistic Debt Financing Options Good Banks for Small Business in Mclean, Virginia Where to Get an SBA Loan Virginia 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.
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