Where to Get Capital for Engineering Services

With these small business loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $75,000 was given to a Massachusetts entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Belchertown (census Name For B, Massachusetts was able to borrow $75,000 from North Brookfield Savings Bank. The SBA made the loan possible by guaranteeing $37,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
BELCHERTOWN (CENSUS NAME FOR B, MA 01007

SBA Loan Lender

NORTH BROOKFIELD SAVINGS BANK
35 SUMMER ST
NORTH BROOKFIELD, MA 01535

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

541330 - Engineering Services

Loan Approval Date

12/18/2007

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into North Brookfield Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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