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May 3, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Warrenton, Business Loans > Provident Bank Of Maryland Warrenton Business Loans > Homefurnishings Stores Loan | ||||
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Small Business Banks That Lend to Washington Businesses
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Company Gets a District of Columbia Small Business LoanSearching for a District of Columbia SBA loan? This District of Columbia entrepreneur got an SBA loan, provided by a Virginia bank that works with the SBA to help small business owners. Getting a small business loan in Washington, District of Columbia was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Provident Bank Of Maryland. Here are the details on this District of Columbia small business loan. SBA Loan Borrower COMPANY TYPE: HOMEFURNISHINGS STORES SBA Loan Lender PROVIDENT BANK OF MARYLAND This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5719 - Homefurnishings Stores NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 10/10/2001 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $80,750. 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 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $95,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks for Warrenton, Virginia Loans
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