Borrowing Money 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 $155,600 was given to a Texas entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $155,600 from State National Bank. The SBA made the loan possible by guaranteeing $116,700 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
EL PASO, TX 79903

SBA Loan Lender

STATE NATIONAL BANK
4500 MERCANTILE PLZA, STE 300
FORT WORTH, TX 76137

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$155,600

Loan Approval from the SBA

Of the total $155,600 loan amount, the SBA guaranteed $116,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in El Paso TX, you ought to talk with a local El Paso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Paso businesses.

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 State National 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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