Financing for Engineering Services

With these loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $1,000,000 was given to a Maryland entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Hanover, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commercefirst Bank, based in Annapolis, Maryland.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
HANOVER, MD 21076

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

6/14/2001

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 40 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commercefirst Bank and they will explain how you can get an SBA loan for your company.

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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