Austin, Texas Business Gets SBA-Guaranteed Funding from Capital One

An SBA loan from Capital One typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Austin, Texas business owner got a $50,000 loan.

Sheila Shung Dba Sheila Sh received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Capital One, out of Mclean, Virginia. The loan was granted and they received $50,000 to help grow their Austin, Texas business.

SBA Loan Borrower

SHEILA SHUNG DBA SHEILA SH
12201 RENFERT WAY STE 320
AUSTIN, TX 78758

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

621111 - Offices of Physicians (except Mental Health Specialists)

Loan Approval Date

3/21/2005

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, Sheila Shung Dba Sheila Sh, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. 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.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan to Sheila Shung Dba Sheila Sh 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 SBA loan database.

Related Links:

Business Cash Advances

SBA Approved Banks in Mclean, Virginia

Virginia SBA 7A Banks

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