How to Get a Loan for Engineering Services

With these business loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $250,000 was given to an Iowa entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Rapids, Iowa was able to borrow $250,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $225,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MANAGEMENT CONSULTING SERVICES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

WELLS FARGO BANK
101 3RD AVE SW
CEDAR RAPIDS, IA 52404

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8742 - Management Consulting Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

6/14/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, things become real when you believe you can achieve them!

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:

Banking Deregulation's Effects on Entrepreneurship

Best Banks in Cedar Rapids, Iowa

Iowa SBA Bank Lenders