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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Washington, Business Loans > The Adams National Bank Washington Business Loans > Eating Places Loan | ||||
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How to Get a Small Business Loan from The Adams National Bank
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SBA Loan from The Adams National Bank Helps Eating Places CompanyThe Adams National Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hyattsville, Maryland was able to borrow $180,000 from The Adams National Bank. The SBA made the loan possible by guaranteeing $135,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE ADAMS NATIONAL BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/13/2005 Loan Approval Gross Amount $180,000 Loan Approval from the SBA Of the total $180,000 loan amount, the SBA guaranteed $135,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks for Small Business in Washington, District of Columbia District of Columbia SBA 7A Banks
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