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Capital One Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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Capital One Small Business Loan ReviewCapital One is one of the best-known banks in America. They have branches all over the country, and only got bigger after their merge with ING. Nearly everyone has seen one of their commercials on TV or heard one on the radio. Despite their saturation of the airwaves, Capital One doesn’t mention their small business loans division very often. This doesn’t mean that they don’t have quality small business financing products, as they work in a large number of industries helping small businesses grow and thrive.

Understanding Your Loan Options

Capital One claims expertise in 15 different categories of industries, with their three main business interests in energy, healthcare and commercial real estate. Some other interests include nonprofit corporations, gaming and apparel, so their experience is very broad. This can be a two-edged sword. On one hand, it is very likely that Capital One has worked with businesses in your industry, giving them some insight into how your business operates. On the other hand, the fact that they operate in so many different industries means that they likely lack the deep, specialized knowledge that some business owners prefer. After all, a jack of all trades is a master of none.

Capital One does not seem interested in extending SBA loans, instead choosing to focus on financial products that aren’t government-backed. They are particularly focused on capital investment in commercial real estate rather than small businesses. However, they do seem to have an interest in providing lines of credit to small businesses not only as a retail service but also to start relationships with growing young businesses. Learn more about how to qualify for a small business loan.

Speed of Implementation and Loan Duration

Since the loans are not completely limited to underwriting onsite, the bank may very well contract out various parts of your application. There may be fees or service charges for the application process as it becomes more thorough. For example, if you are securing your loan with a house, it may be that the bank will require an appraisal or an inspection, both of which have charges associated.

Fine Print and Final Thoughts

The Capital One Spark program is the name of their small business focused banking services. They offer business checking and business savings accounts as well as business credit cards. If you want to do business with them, it might be best to start small with one of these limited obligation services and explore their options for business loans after some time as their customer.

Anne Miller


Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.

 

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