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May 3, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Silver Spring, Business Loans > American Bank Silver Spring Business Loans > Facilities Support Services Loan | ||||
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District of Columbia Small Business Funding
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Facilities Support Services Small Business LoansWith these small business loans for facilities support services, the SBA guarantees the lender that the loan will be repaid. This facilities support services loan for $500,000 was given to a District of Columbia entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, District of Columbia was able to borrow $500,000 from American Bank. The SBA made the loan possible by guaranteeing $375,000 of this District of Columbia small business loan. SBA Loan Borrower COMPANY TYPE: FACILITIES SUPPORT SERVICES SBA Loan Lender AMERICAN BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561210 - Facilities Support Services Loan Approval Date 7/10/2002 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 135 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Raising VC Money for Social Networking Companies SBA Approved Banks in Silver Spring, Maryland Browse All Business Loan Sources for Maryland
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