City 1st Bank - D.C. SBA Loan to Retail Bakeries Company

City 1st Bank - D.C. has a track record as a leading provider of SBA loans. Find out how this District of Columbia entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Washington, District of Columbia, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was City 1st Bank - D.C., based in Washington, District of Columbia.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
WASHINGTON, DC 20009

SBA Loan Lender

CITY 1ST BANK - D.C.
1432 U ST NW
WASHINGTON, DC 20009

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

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

2/6/2007

Loan Approval Gross Amount

$291,000

Loan Approval from the SBA

Of the total $291,000 loan amount, the SBA guaranteed $218,250.

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 55 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like City 1st Bank - D.C. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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