Entrepreneur Works With Mclean, Virginia Bank to Get an SBA Loan

Get to know Mclean, Virginia banks that specialize in SBA loans and know how to work with entrepreneurs. Chevy Chase Bank, F.S.B. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Sterling (census Name Sterling, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Chevy Chase Bank, F.S.B.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
STERLING (CENSUS NAME STERLING, VA 20166

SBA Loan Lender

CHEVY CHASE BANK, F.S.B.
7926 JONES BRANCH DR
MCLEAN, VA 22102

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

1/24/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 10 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $250,000 loan. Remember, if it to be, it is up to me!

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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