Financing for Engineering Services

With these loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $600,100 was given to a Michigan entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ann Arbor, Michigan was able to borrow $600,100 from Citizens Bank. The SBA made the loan possible by guaranteeing $450,075 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
ANN ARBOR, MI 48105

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

8/1/2006

Loan Approval Gross Amount

$600,100

Loan Approval from the SBA

Of the total $600,100 loan amount, the SBA guaranteed $450,075.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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 - How to Borrow Money

Where to Get an SBA Loan in Lansing, Michigan

SBA Participating Banks in Michigan