Borrowing Money for Scientific and Technical Consulting Services
With these loans for scientific and technical consulting services, the SBA guarantees the lender that the loan will be repaid. This scientific and technical consulting services loan for $20,000 was given to a Massachusetts entrepreneur in 2005.
Getting a small business loan in Springfield, Massachusetts was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from United Bank, operating out of West Springfield, Massachusetts. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
SPRINGFIELD, MA 01108
SBA Loan Lender
UNITED BANK
95 ELM ST
WEST SPRINGFIELD, MA 01089
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
541690 - Scientific and Technical Consulting Services
Loan Approval Date
10/25/2005
Loan Approval Gross Amount
$20,000
Loan Approval from the SBA
Of the total $20,000 loan amount, the SBA guaranteed $10,000.
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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $20,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
The Friends and Family Network
Who Lends Money to Small Businesses in West Springfield, Massachusetts
Getting a Business Loan in Massachusetts