SBA lending record
Somat Engineering, Inc.
3031 WEST GRAND BLVD, Detroit, MI 48202 · Engineering Services. The complete public SBA 7(a) record for this business — every loan, every field, the lender, and the map.
$2.5M
Total SBA financing
1
Loan on record
FY2024
On record
114
Jobs supported
● business — business location is the ZIP-area centroid from the public record
Is Somat Engineering, Inc. your business?
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The loan
$2,520,000 — FY2024
- Gross approval
- $2,520,000
- SBA guaranteed
- $1,890,000 (75%)
- Status
- Current
- Rate at approval
- 9.5% v
- Term
- 120 mo (10 yr)
- Program
- Preferred Lenders Program
- Subprogram
- Guaranty
- Loan type
- Term loan
- Purpose
- Business purchase
- Approved
- 4/30/2024
- First disbursement
- 6/21/2024
- Days to fund
- 52 days
- Collateral
- Required
- Jobs supported
- 114
- Business type
The lender
Agent summary
This page summarizes the public SBA 7(a) lending record for Somat Engineering, Inc. in Detroit, MI (Engineering Services). DealRoom compiles public SBA loan data, lender activity, and business signals to help buyers and advisors evaluate acquisition financing — it does not list this business for sale.
- 1 SBA 7(a) loan totaling $2.5M
- On record FY2024
- 114 jobs supported
- Industry: Engineering Services
- Location: Detroit, MI
- Lender: Fifth Third Bank
- Data freshness:
- SBA records through 2026-05-31; FDIC through 2026-03-31; page updated 2026-06-15.
- Sources:
- Public SBA 7(a) loan records; FDIC institution data (BankFind); DealRoom lender and franchise enrichment.
- Methodology:
- Sources & methodology
Is Somat Engineering, Inc. your business?
This page was built from public lending data. Claim it free to correct the details, tell your story, and control how your business shows up — or ask us to take it down.
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DealRoom listing built from public SBA 7(a) lending records. Figures are as reported; verify before relying on them. Not affiliated with Somat Engineering, Inc..