Washington, District of Columbia Entrepreneur Gets a Business Loan

District of ColumbiaBusiness loans are available to District of Columbia business owners through the SBA. In this case, a California bank provides the loan.

Getting a small business loan in Washington, District of Columbia was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
WASHINGTON, DC 20010

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

This lender issued this SBA bank 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.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

10/28/2003

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

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

If you need business start up money in Washington DC, you ought to talk with a local Washington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Washington businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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