Capital One's Small Loan Options: What You Need To Know

Capital One does not offer personal loans, but it does provide business loans and lines of credit for small businesses. To be eligible for a Capital One small business loan, you must have been in business for at least two years and have a Capital One small business checking account or be willing to open one. The bank offers SBA loans, including SBA 7(a) term loans, SBA 504 loans, SBA Express loans, and lines of credit. Loan sizes range from a minimum of $10,000 to a maximum of $5 million.

Capital One small business loans

Capital One offers small business loans with loan sizes ranging from a minimum of $10,000 to a maximum of $5 million. The bank provides various SBA loans, including SBA 7(a) loans, SBA 504 loans, SBA Express loans, and SBA Express lines of credit. These SBA loans are backed by the U.S. Small Business Administration and offer favourable interest rates and extended repayment terms of up to 25 years. Capital One, as an SBA Preferred Lender, can approve SBA loans faster than other non-preferred lenders.

In addition to SBA loans, Capital One offers standard term loans, lines of credit, construction loans, equipment financing, and investor real estate loans. To qualify for a Capital One small business loan, you must have been in business for at least two years and have a Capital One business checking account or be willing to open one. The bank does not disclose specific eligibility criteria, such as minimum credit score or annual revenue requirements, on its website.

To apply for a Capital One small business loan, you must do so in person at one of their physical branches. Before scheduling an appointment, gather your personal and business documents, including financial records, tax returns, and business plans. You can discuss funding opportunities with a business banker over the phone before submitting your application. Upon approval, you will need to review and sign the loan documents.

Capital One has a limited physical presence, with branches available only in a handful of U.S. states along the East and Gulf coasts. This limited accessibility may be inconvenient for businesses located far from their branches. It is recommended to compare loan options from different lenders, such as Wells Fargo and OnDeck, to find the right fit for your small business.

Capital One business financing

Capital One offers business financing to its customers, including business loans and lines of credit. To be eligible for a Capital One business loan, you must have been in business for at least 2 years and have a business checking account with Capital One or be willing to open one. The loan amounts range from a minimum of $10,000 to a maximum of $5 million. The loan can be used for purchasing, refinancing, or improving property, and it comes with fixed payments and term lengths of up to 20 years.

Capital One also offers SBA loans, which are backed by the Small Business Administration and come with lower interest rates. The SBA loan options available through Capital One include the SBA 7(a) term loans, SBA 504 loans, SBA Express loans, and lines of credit. As an SBA Preferred lender, Capital One has more flexibility in approving SBA loan applications.

In addition to the SBA loans, Capital One provides small business lines of credit that can help with cash flow issues and provide funds for business investment opportunities. These lines of credit can be particularly useful for taking advantage of last-minute business investment opportunities.

It is important to note that Capital One does not provide detailed information about the interest rates and repayment terms for its small business loans on its website. To obtain this information, you would need to contact a local Capital One banker or visit one of their branch locations, as they require in-person applications for their business loans.

Capital One SBA loans

Capital One offers SBA loans to small businesses for a variety of business expenses. SBA loans are partially guaranteed by the US Small Business Administration and are administered by participating lenders like banks or credit unions. The SBA may guarantee up to 85% of the loan value, depending on the type of loan, the lender, and the borrower's eligibility. With often favourable interest rates and extended repayment terms, SBA loans are a great option for securing funds for your business.

To be eligible for an SBA loan with Capital One, you must have been in business for at least 2 years and have or open a Capital One business checking account. Loan sizes range from a minimum of $10,000 to a maximum of $5,000,000. SBA loans may also offer lower down payments and flexible overhead requirements. You can combine SBA loans with other financing options to maximize your borrowing potential.

The approval process for an SBA loan typically takes anywhere from 30 to 90 days. A personal guarantee may be required, meaning that if your business cannot make payments on the loan, you could be personally responsible for paying back the funds. SBA loans may require a down payment of anywhere from 10% to 30% before securing funding.

SBA loans can be used to cover a range of business expenses, including working capital, real estate, startup costs, expansion and improvement, normal operating expenses, debt consolidation, refinancing and repayment, supplies and equipment, and more.

Capital One business checking account

Capital One does not offer personal loans, but it does provide a variety of other financial products and services, including business checking accounts.

A business checking account with Capital One offers several benefits and features to support small businesses. Firstly, it provides comprehensive cash flow management solutions, from basic transactions to more complex cash flow needs. There are no fees for digital transactions, including mobile deposits, ACH payments, and select online bill pay options. This makes it convenient for businesses to manage their finances on the go using the top-rated Capital One Mobile app.

Account-holders also gain access to a vast network of ATMs with no withdrawal fees, including Capital One, MoneyPass®, and Allpoint® ATMs, totaling 70,000+ machines. Additionally, cash deposits can be made at any Capital One branch, Café, or ATM, and select Allpoint® ATMs without incurring any charges. Capital One also offers free Overdraft Protection when linked to a Capital One Business deposit account.

Another advantage of a Capital One business checking account is the availability of specialized products, money management tools, flexible lending options, and special rates. This includes the option to earn a promotional rate of up to NaN APY, guaranteed for the first three months when opening a business savings account.

To get started, business owners can meet with a Capital One associate to discuss their specific needs and explore the various business banking options available. Capital One is ranked #1 for customer satisfaction in Small Business Banking for two consecutive years by J.D., underscoring the confidence that businesses can have in their banking services.

Capital One branch locations

Capital One does not offer personal loans, but it does provide other financial products, such as credit cards, mortgages, and auto loans.

Regarding Capital One branch locations, the company has offices and people centers across the United States. Some notable locations include:

• McLean, Virginia: This location is home to Capital One's headquarters and is situated just 30 minutes outside of Washington, DC.
• Richmond, Virginia: Richmond is the capital of Virginia and is known for its vibrant culture and scenic setting along the James River. It houses three large and bustling Capital One people centers.
• Plano, Texas: The Plano campus is one of the company's largest people centers and is within easy reach of Dallas, Texas, known for its vibrant food scene.
• Manhattan and Long Island, New York: Capital One has two locations in the Flatiron District and another on Park Ave, offering convenient access to public transportation.
• Chicago, Illinois: The Chicago office provides a dynamic workspace with a mix of industrial design and modern fixtures.
• Boston, Massachusetts: The Boston location offers ample space for collaboration and focused work, catering to various work styles.
• Atlanta, Georgia: The Atlanta office is situated in the vibrant Ponce City Market, known for its food and entertainment options.
• San Francisco, California: The San Francisco office is in the South of Market district, providing a flexible work environment with easy access to transportation and dining options.
• Philadelphia, Pennsylvania: The Philadelphia office is located in the heart of the city, featuring adaptable spaces that support collaboration, creativity, and innovation.

To find specific Capital One branch locations near you, you can use their website or mobile applications, which allow you to search for nearby banking locations, including cafes, ATMs, and branches.

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