How to Get a Loan for Engineering Services

With these business loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $3,400,000 was given to a Maryland entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beltsville, Maryland was able to borrow $3,400,000 from Sandy Spring Bank. The SBA made the loan possible by guaranteeing $749,972 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES
BELTSVILLE, MD 20705

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8999 - Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

11/6/2000

Loan Approval Gross Amount

$3,400,000

Loan Approval from the SBA

Of the total $3,400,000 loan amount, the SBA guaranteed $749,972.

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 17 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $3,400,000 loan. Remember, if it to be, it is up to me!

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:

Strategic Investors

SBA Approved Banks in Olney, Maryland

Maryland SBA Bank Lenders