District of Columbia Small Business Loan Issued to Drycleaning And Laundry Services Company

SBA loans in District of Columbia are tough to come by these days. We take a look at one District of Columbia SBA loan, provided by a Maryland bank, that was approved by the SBA.

This company, based in Washington, District of Columbia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Eaglebank. We've got the inside scoop on this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
WASHINGTON, DC 20008

SBA Loan Lender

EAGLEBANK
7815 WOODMONT AVE
BETHESDA, MD 20814

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/23/2003

Loan Approval Gross Amount

$885,000

Loan Approval from the SBA

Of the total $885,000 loan amount, the SBA guaranteed $663,750.

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 26 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Eaglebank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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