Company Gets a District of Columbia SBA Loan

SBA loans in District of Columbia are are few and far betweeen these days. We take a look at one District of Columbia SBA loan, provided by a Maryland bank, that was approved by the SBA.

Getting a small business loan in Washington, District of Columbia was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association. Here are the details on this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO TAPE PRODUCTION
WASHINGTON, DC 20036

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
702 RUSSELL AVE, STE 200
GAITHERSBURG, MD 20877

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

7812 - Motion Picture and Video Tape Production

NAICS Code

512110 - Motion Picture and Video Production

Loan Approval Date

7/1/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan application for the borrower 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!

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

The Art of Bootstrapping

SBA 7A Lenders in Gaithersburg, Maryland

SBA Participating Banks in Maryland