Business Loan from Washingtonfirst Bank Given to Computer Integrated Systems Design Company

Washingtonfirst Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

Getting a small business loan in Silver Spring, Maryland was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Washingtonfirst Bank, operating out of Washington, District of Columbia. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER INTEGRATED SYSTEMS DESIGN
SILVER SPRING, MD 20910

SBA Loan Lender

WASHINGTONFIRST BANK
1146 19TH ST NW
WASHINGTON, DC 20036

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

7373 - Computer Integrated Systems Design

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

8/15/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 31 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $500,000 loan. Remember, feel the fear, and do it anyway.

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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