Getting an SBA Loan for Engineering Services

With these SBA loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $204,500 was given to a New Mexico entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tijeras, New Mexico was able to borrow $204,500 from Grants State Bank. The SBA made the loan possible by guaranteeing $153,375 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
TIJERAS, NM 87059

SBA Loan Lender

GRANTS STATE BANK
824 W SANTA FE AVE
GRANTS, NM 87020

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

12/4/2002

Loan Approval Gross Amount

$204,500

Loan Approval from the SBA

Of the total $204,500 loan amount, the SBA guaranteed $153,375.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Grants State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Grants State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Getting an SBA Loan in New Mexico