Firm Gets a District of Columbia Business Loan
Looking to get a District of Columbia small business loan? This District of Columbia entrepreneur got a small business loan, provided by a North Carolina bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Washington, District of Columbia by studying this loan to a local company, made back in 2004. Banks like Branch Bank & Trust may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY FOOD STORES
WASHINGTON, DC 20001
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
445299 - Specialty Food Stores
Loan Approval Date
9/14/2004
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
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.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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 - Friends and Family
SBA 7A Banks for Winston Salem, North Carolina Loans
Getting a Business Loan in North Carolina