Financing for Scientific and Technical Consulting Services

Looking for loans for scientific and technical consulting services? An SBA loan may be just what you've been looking for. This $501,000 scientific and technical consulting services loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Holly, Michigan was able to borrow $501,000 from Guaranty Bank. The SBA made the loan possible by guaranteeing $375,750 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
HOLLY, MI 48442

SBA Loan Lender

GUARANTY BANK
3001 METRO DR, STE 320
BLOOMINGTON, MN 55425

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541690 - Scientific and Technical Consulting Services

Loan Approval Date

8/15/2007

Loan Approval Gross Amount

$501,000

Loan Approval from the SBA

Of the total $501,000 loan amount, the SBA guaranteed $375,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Guaranty 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:

Obtaining Funding - Friends and Family

SBA 7A Lenders in Bloomington, Minnesota

Getting a Business Loan in Minnesota