Commercial Loans for Architectural Services

Looking for commercial loans for architectural services? Try the SBA. This $117,300 architectural services loan was issued by an Indiana bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $117,300 to help grow their Ferndale, Michigan business.

SBA Loan Borrower

COMPANY TYPE: ARCHITECTURAL SERVICES
FERNDALE, MI 48220

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8712 - Architectural Services

NAICS Code

541310 - Architectural Services

Loan Approval Date

3/11/2002

Loan Approval Gross Amount

$117,300

Loan Approval from the SBA

Of the total $117,300 loan amount, the SBA guaranteed $99,705.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Line of Credit

SBA 7A Lenders in Indianapolis, Indiana

Getting an SBA Loan in Indiana