Washington, District of Columbia Business Gets SBA-Guaranteed Funding from Abigail Adams National Bancorp Inc

Abigail Adams National Bancorp Inc is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one District of Columbia entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Abigail Adams National Bancorp Inc, out of Washington, District of Columbia. The loan was granted and they received $70,000 to help grow their Washington, District of Columbia business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
WASHINGTON, DC 20003

SBA Loan Lender

ABIGAIL ADAMS NATIONAL BANCORP INC
1130 CONNECTUCUT AVE NW
WASHINGTON, DC 20036

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5021 - Furniture

NAICS Code

442110 - Furniture Stores

Loan Approval Date

10/16/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Abigail Adams National Bancorp Inc and they will explain how you can get an SBA loan for your company.

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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