Washington, District of Columbia Business Gets SBA-Guaranteed Funding from The Adams National Bank

The Adams National Bank 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 small firm 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 2000. The lending bank was The Adams National Bank, based in Washington, District of Columbia.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
WASHINGTON, DC 20009

SBA Loan Lender

THE ADAMS NATIONAL BANK
1130 CONNECTICUT AVE NW, STE
WASHINGTON, DC 20006

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

7/21/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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