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December 21, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Bethesda, Business Loans > Eaglebank Bethesda Business Loans > Industrial Building Construction Loan | ||||
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Getting a Business Loan in Washington, District of Columbia
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District of Columbia SBA Loan Issued to Industrial Building Construction CompanyLooking to get a District of Columbia small business loan? This District of Columbia entrepreneur got a small business loan, provided by a Maryland bank that works with the SBA to help small business owners. 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 Eaglebank. We've got the inside scoop on this District of Columbia small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL BUILDING CONSTRUCTION SBA Loan Lender EAGLEBANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 236210 - Industrial Building Construction Loan Approval Date 2/6/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $250,000 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. Related Links: Realistic Debt Financing Options
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