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November 15, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Washington, Business Loans > The Adams National Bank Washington Business Loans > Process, Physical Distribution, And Logistics Consulting Services Loan | ||||
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District of Columbia SBA Lenders
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Washington, District of Columbia Bank Gives SBA Loan to Process, Physical Distribution, And Logistics Consulting Services CompanyThinking about meeting with a Washington, District of Columbia bank about a small business loan? Here's one District of Columbia business loan, issued by a Washington bank, that was approved by the SBA. Applying for an SBA loan with The Adams National Bank worked out well for our friends at one local company in Washington, District of Columbia. The business was able to get an SBA loan for $1,000,000. Way to go! SBA Loan Borrower COMPANY TYPE: PROCESS, PHYSICAL DISTRIBUTION, AND LOGISTICS CONSULTING SERVICES SBA Loan Lender THE ADAMS NATIONAL BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541614 - Process, Physical Distribution, and Logistics Consulting Services Loan Approval Date 9/29/2005 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 30 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. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding From a Venture Capitalist Small Business Banks in Washington, District of Columbia District of Columbia SBA Banks
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