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April 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Fe Springs, Business Loans > East West Bank Santa Fe Springs Business Loans > Engineering Services Loan | ||||
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Requirements for Entrepreneurs On Getting a Loan
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How to Get a Loan for Engineering ServicesLooking for business loans for engineering services? Talk to a banker who works with the SBA. This $550,000 engineering services loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Irvine, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was East West Bank, based in Santa Fe Springs, California. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender EAST WEST BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 8/24/2004 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Approved Banks in Santa Fe Springs, California
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