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November 15, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Washington, Business Loans > Industrial Bank Washington Business Loans > Detective, Guard, And Armored Car Services Loan | ||||
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Banks in Washington, District of Columbia That Make SBA Loans
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Washington, District of Columbia Bank Lends Money to Detective, Guard, And Armored Car Services Company in Washington, District of ColumbiaGet SBA 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. Industrial Bank 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 SBA Loan Lender INDUSTRIAL BANK This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, 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 7381 - Detective, Guard, and Armored Car Services NAICS Code 561612 - Security Guards and Patrol Services Loan Approval Date 3/4/2002 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 350 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Industrial 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: Obtaining Funding From a Venture Capitalist SBA 7A Lenders in Washington, District of Columbia District of Columbia SBA 7A Lenders
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