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April 20, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Washington, Business Loans > The Adams National Bank Washington Business Loans > Architectural Services Loan | ||||
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How to Get SBA Money in Washington, District of Columbia
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District of Columbia Business Loan Issued to Architectural Services CompanySBA loans in District of Columbia are hard to find these days. We take a look at one District of Columbia SBA loan, provided by a District of Columbia bank, that was approved by the SBA. By giving the right information to The Adams National Bank, this Washington, District of Columbia business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ARCHITECTURAL SERVICES SBA Loan Lender THE ADAMS NATIONAL BANK This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8712 - Architectural Services NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 2/2/2001 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Adams National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Adams National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Washington, District of Columbia Getting an SBA Loan in District of Columbia
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