Engineering Services Bank Loans

With these bank loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $110,000 was given to a Minnesota entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Drake Bank, out of Saint Paul, Minnesota. The loan was granted and they received $110,000 to help grow their Saint Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
SAINT PAUL, MN 55107

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

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

7/31/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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