Raising Money for Engineering Services

Looking for bank loans for engineering services? The SBA may be the answer. This $125,000 engineering services loan was issued by a Connecticut bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seekonk, Massachusetts was able to borrow $125,000 from Webster Bank. The SBA made the loan possible by guaranteeing $62,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
SEEKONK, MA 02771

SBA Loan Lender

WEBSTER BANK
145 BANK ST
WATERBURY, CT 06702

This commercial 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

541330 - Engineering Services

Loan Approval Date

7/2/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Webster Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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