District of Columbia Bank Loan Issued to Support Services Company

Would a District of Columbia SBA loan help your business get to the next level? If so, you may want to talk with this North Carolina bank, which offers SBA loans to District of Columbia entrepreneurs.

Getting a small business loan in Washington, District of Columbia was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT SERVICES
WASHINGTON, DC 20003

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this SBA 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

561990 - Support Services

Loan Approval Date

7/10/2007

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Washington DC, you ought to talk with a local Washington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Washington businesses.

While you may be able to find other ways to get money to start a business, 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.

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