Getting an SBA Loan for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $75,000 was given to a District of Columbia entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, District of Columbia was able to borrow $75,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $37,500 of this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
Washington, DC 20009

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722410 - Drinking Places

Loan Approval Date

9/9/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suntrust Bank and they will explain how you can get an SBA loan for your company.

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:

Debt Financing

Find an SBA Lender in Richmond, Virginia

SBA Participating Banks in Virginia