Where to Get Capital for Research and Development in the Physical, Engineering, and Life Sciences

Looking for SBA loans for research and development in the physical, engineering, and life sciences? Try the SBA. This $50,000 research and development in the physical, engineering, and life sciences loan was issued by an Alabama bank.

This small business knew how to go about getting a business bank loan. Based in Huntsville, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Redstone Fcu, based in Huntsville, Alabama.

SBA Loan Borrower

COMPANY TYPE: RESEARCH AND DEVELOPMENT IN THE PHYSICAL, ENGINEERING, AND LIFE SCIENCES
HUNTSVILLE, AL 35816

SBA Loan Lender

REDSTONE FCU
220 WYNN DR
HUNTSVILLE, AL 35893

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541712 - Research and Development in the Physical, Engineering, and Life Sciences

Loan Approval Date

1/9/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

Small Business Banks in Huntsville, Alabama

SBA Participating Banks in Alabama