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| Entrepreneur Resources | Capital One Bank (usa) Glen Allen Business Loans | ||||
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Capital One Bank (usa)
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Miami, Florida Business Gets SBA-Guaranteed Funding from Capital One Bank (usa)Capital One Bank (usa) and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.
Homexxchange, Inc. received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Capital One Bank (usa), out of Glen Allen, Virginia. The loan was granted and they received $50,000 to help grow their Miami, Florida business. SBA Loan Borrower HOMEXXCHANGE, INC. SBA Loan Lender CAPITAL ONE BANK (USA) 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 541511 - Custom Computer Programming Services Loan Approval Date 8/3/2007 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, Homexxchange, Inc., 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Homexxchange, Inc. walked into Capital One Bank (usa) 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: Best Glen Allen, Virginia Banks for Small Business 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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