Recommend a good bank to get a SBA (or bank backed) startup loan in The District
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Anonymous
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Starting up a retail shop in DC. I'm looking for a bank, in DC, that's very into supporting local, independent businesses. That's the bank I would like to get a loan with. Sort of like the old days, where a handshake still meant something. Amount is probably between 225K-275K depending on investors.
Any advice appreciated. Thanks. |
Anonymous
| Try Eagle Bank |
Anonymous
| NOT Sandy Spring. Sorry, don't have any to recommend but our experience with SS has been universally negative. |
Anonymous
| OP here. I have to say, I've been very disappointed with Eagle Bank. My paper work has disappeared and had to refaxed/emailed. if you show up in person, they really, really don't like you. |
Anonymous
PP here and, sorry, I don't work with them directly (not admin staff) but my small law firm uses them and is relatively pleased. |
Anonymous
| I felt like a kid who did something wrong, but not sure exactly what it was. I felt that I'd committed a crime, but no one would tell me what it was when I got there |
Anonymous
| My DH used to be an SBA counselor at the DC Small Business Development Center and recommends M&T Bank, BB&T or PNC. |
Anonymous
| well, it was denied anyway, which is fine. Insufficient collateral, which I know is important. But I was surprised that it took only an hour or two to decide. I don't think they even went to the SBA |
Anonymous
OP here. Thanks. I'm meeting with WACIF and Operation Hope tomorrow. I've used their other services and completely forgot they do loans for start-ups. I live in Springfield, so I hope to see the financial person at that one on Friday. Two years of preparation , over 3000 hours of research, 100s of classroom seminars... all derailed by the SBA. I just feel the SBA has horribly failed in it's mission: to give decent folks who want to grow the economy access to cash. |