SBA Loans for Surveying and Mapping Services

With these SBA loans for surveying and mapping services, the SBA guarantees the lender that the loan will be repaid. This surveying and mapping services loan for $35,000 was given to an Illinois entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Associated Bank, out of Peoria, Illinois. The loan was granted and they received $35,000 to help grow their Washington, Illinois business.

SBA Loan Borrower

COMPANY TYPE: SURVEYING SERVICES
WASHINGTON, IL 61571

SBA Loan Lender

ASSOCIATED BANK
4600 BRANDYWINE DR
PEORIA, IL 61614

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8713 - Surveying Services

NAICS Code

541370 - Surveying and Mapping Services

Loan Approval Date

1/25/2002

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Business Line of Credit

Where to Get an SBA Loan in Peoria, Illinois

Illinois SBA 7A Lenders