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May 8, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Reston, Business Loans > Access National Bank Reston Business Loans > Management Services Loan | ||||
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How to Get SBA Money in Herndon, Virginia
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Access National Bank Gives Small Business Loan to Management Services CompanyWould a Virginia small business loan help your small business to grow and prosper? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs. Getting a small business loan in Herndon, Virginia was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Access National Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: MANAGEMENT SERVICES SBA Loan Lender ACCESS NATIONAL BANK At the time this loan was granted, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8741 - Management Services NAICS Code 561110 - Office Administrative Services Loan Approval Date 10/25/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Reston, Virginia
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