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April 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Washington, Business Loans > The Adams National Bank Washington Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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We Needed a Commercial Loan in Fairfax, Virginia and We Got One!
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Where to Get Capital for Electronic Shopping and Mail-Order HousesLooking for small business loans for electronic shopping and mail-order houses? Talk to a banker who works with the SBA. This $50,000 electronic shopping and mail-order houses loan was issued by a District of Columbia bank. This company knew how to go about getting a business bank loan. Based in Fairfax, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was The Adams National Bank, based in Washington, District of Columbia. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender THE ADAMS NATIONAL BANK This loan for a small business was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 454110 - Electronic Shopping and Mail-Order Houses Loan Approval Date 9/19/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 From a Venture Capitalist SBA 7A Lenders in Washington, District of Columbia SBA Lenders in District of Columbia
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