Washington, District of Columbia Bank Gives SBA Loan to Detective, Guard, And Armored Car Services Company

Get business loans from a Washington, District of Columbia bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Independence Fed. Savings Bk is a Washington, District of Columbia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a District of Columbia company.

SBA Loan Borrower

COMPANY TYPE: DETECTIVE, GUARD, AND ARMORED CAR SERVICES
WASHINGTON, DC 20018

SBA Loan Lender

INDEPENDENCE FED. SAVINGS BK
1229 CONNECTICUT AVE NW
WASHINGTON, DC 20036

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

7381 - Detective, Guard, and Armored Car Services

NAICS Code

561612 - Security Guards and Patrol Services

Loan Approval Date

11/6/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 180 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

How Equity Dilution Works

SBA 7A Banks for Washington, District of Columbia Loans

District of Columbia SBA Banks