Citibank Gives SBA Loan to Fitness And Recreational Sports Centers Company
Bank loans in District of Columbia are hard to find these days. We take a look at one District of Columbia bank loan, provided by a California bank, that was approved by the SBA.
This small business, 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 Citibank. We've got the inside scoop on this District of Columbia small business loan.
SBA Loan Borrower
COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
WASHINGTON, DC 20009
SBA Loan Lender
CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104
This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
12/11/2003
Loan Approval Gross Amount
$142,000
Loan Approval from the SBA
Of the total $142,000 loan amount, the SBA guaranteed $71,000.
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 75 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 75 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $142,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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