Raising Money for Engineering Services
Looking for business loans for engineering services? Try the SBA. This $490,000 engineering services loan was issued by an Indiana bank.
This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Salin Bank & Trust Company, out of Columbus, Indiana. The loan was granted and they received $490,000 to help grow their Seymour, Indiana business.
SBA Loan Borrower
COMPANY TYPE: ENGINEERING SERVICES
SEYMOUR, IN 47274
SBA Loan Lender
SALIN BANK & TRUST COMPANY
655 THIRD ST
COLUMBUS, IN 47201
This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
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
9/5/2003
Loan Approval Gross Amount
$490,000
Loan Approval from the SBA
Of the total $490,000 loan amount, the SBA guaranteed $367,500.
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 9 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Salin Bank & Trust Company 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:
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SBA Participating Banks in Columbus, Indiana
SBA Lenders in Indiana