Engineering Services Small Business Loans

With these small business loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $80,000 was given to a Maryland entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Forest Hill, Maryland was able to borrow $80,000 from Farmers & Merchants Bank. The SBA made the loan possible by guaranteeing $68,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
FOREST HILL, MD 21050

SBA Loan Lender

FARMERS & MERCHANTS BANK
15226 HANOVER PIKE
UPPERCO, MD 21155

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8711 - Engineering Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $80,000 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:

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