Engineering Services Business Loans

With these business loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $300,000 was given to a New Jersey entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berlin, New Jersey was able to borrow $300,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $225,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
Berlin, NJ 08009

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

3/1/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 95 employees. This SBA loan request indicated that the loan would help retain 95 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Berlin NJ, you ought to talk with a local Berlin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Berlin businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

SBIR Funding

Who Lends Money to Small Businesses in Philadelphia, Pennsylvania

Pennsylvania SBA Banks