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May 2, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Fairfax, Business Loans > United Bank Fairfax Business Loans > Eating Places Loan | ||||
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United Bank Business Loan Washington, DC
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United Bank SBA Loan to Eating Places CompanyAn SBA loan from United Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Washington, District of Columbia business owner got a $50,000 loan. This growing company knew how to go about getting a business bank loan. Based in Washington, District of Columbia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was United Bank, based in Fairfax, Virginia. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITED BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 2/3/2000 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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, if it to be, it is up to me! 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: A Company That Helps Entrepreneurs Best Fairfax, Virginia Banks for Small Business Browse All Business Loan Sources for Virginia
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