Entrepreneur Works With Rockville, Maryland Bank to Get an SBA Loan

Want to talk with a Rockville, Maryland bank about a small business loan? Here's one Virginia business loan, issued by a Rockville bank, that was approved by the SBA.

Applying for an SBA loan with Colombo Bank worked out well for our friends at one local firm in Arlington, Virginia. They received an SBA loan for $50,000. Nice!

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
ARLINGTON, VA 22207

SBA Loan Lender

COLOMBO BANK
14801 SOUTHLAWN LN
ROCKVILLE, MD 20850

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

5199 - Nondurable Goods

Loan Approval Date

8/23/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Colombo Bank and they will explain how you can get an SBA loan for your company.

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:

Getting a Small Business Loan

SBA 7A Banks in Rockville, Maryland

SBA Maryland Banks