How to Get a Loan for Professional, Scientific, and Technical Services
Looking for commercial loans for professional, scientific, and technical services? The SBA may be the answer. This $250,000 professional, scientific, and technical services loan was issued by a Pennsylvania bank.
This small business knew how to go about getting a business bank loan. Based in New York, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
NEW YORK, NY 10025
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
541990 - Professional, Scientific, and Technical Services
Loan Approval Date
3/7/2002
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $125,000.
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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce 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:
Alternative Financing
Banks in Philadelphia, Pennsylvania
Pennsylvania SBA 7A Lenders