Support Services Loans

With these loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $400,000 was given to a Maryland entrepreneur in 2003.

This company knew how to go about getting a business bank loan. Based in Bethesda, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Natl Consumer Cooperative, based in Washington, District of Columbia.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
BETHESDA, MD 20814

SBA Loan Lender

NATL CONSUMER COOPERATIVE
601 PENNSYLVANIA AVE, NW, STE
WASHINGTON, DC 20044

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

7389 - Business Services

NAICS Code

561990 - Support Services

Loan Approval Date

6/4/2003

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 5 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Natl Consumer Cooperative had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Natl Consumer Cooperative 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

Best Banks in Washington, District of Columbia

SBA Lenders in District of Columbia