Where to Get Capital 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 $45,000 was given to a West Virginia entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milton, West Virginia was able to borrow $45,000 from United Bank. The SBA made the loan possible by guaranteeing $38,250 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
MILTON, WV 25541

SBA Loan Lender

UNITED BANK
2889 3RD AVE
HUNTINGTON, WV 25702

This was a Low Documentation SBA loan. The SBA started 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. Currently, $100,000 is the maximum loan amount.

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

4/24/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Borrowing Money from Friends and Family

Small Business Banks in Huntington, West Virginia

Getting an SBA Loan in West Virginia