Entrepreneur Works With Washington, District of Columbia Bank to Get an SBA Loan

Get to know Washington, District of Columbia banks that specialize in small business loans and know how to work with entrepreneurs. Loans From Old Closed Lenders is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Gardena, California starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Loans From Old Closed Lenders. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
GARDENA, CA 90248

SBA Loan Lender

LOANS FROM OLD CLOSED LENDERS
409 3RD STREET S.W., SUITE 83
WASHINGTON, DC 20416

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7379 - Computer Related Services

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

1/19/2000

Loan Approval Gross Amount

$798,000

Loan Approval from the SBA

Of the total $798,000 loan amount, the SBA guaranteed $598,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $798,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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