Financing for Engineering Services

With these loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $345,000 was given to a Minnesota entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Commercial Bank, based in Bloomington, Minnesota.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
MINNEAPOLIS, MN 55414

SBA Loan Lender

FIRST COMMERCIAL BANK
8500 NORMANDALE LAKE BLVD, ST
BLOOMINGTON, MN 55437

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 loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$345,000

Loan Approval from the SBA

Of the total $345,000 loan amount, the SBA guaranteed $258,750.

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 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

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.

We can help you find the best banks for small businesses in Minneapolis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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