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December 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Vienna, Business Loans > Access National Bank Vienna Business Loans > Management Consulting Services Loan | ||||
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Virginia Bank SBA Loans
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Business Loan from Access National Bank Given to Management Consulting Services CompanyAccess National Bank has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Reston, Virginia was able to borrow $700,000 from Access National Bank. The SBA made the loan possible by guaranteeing $525,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: MANAGEMENT CONSULTING SERVICES SBA Loan Lender ACCESS NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8742 - Management Consulting Services NAICS Code 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 12/5/2006 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Access National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source
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