Loans for Site Preparation Contractors

With these loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $67,000 was given to a Texas entrepreneur in 2004.

Getting a small business loan in Abilene, Texas was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from American State Bank, operating out of Abilene, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING
ABILENE, TX 79601

SBA Loan Lender

AMERICAN STATE BANK
402 CYPRESS ST
ABILENE, TX 79601

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7353 - Heavy Construction Equipment Rental and Leasing

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

3/31/2004

Loan Approval Gross Amount

$67,000

Loan Approval from the SBA

Of the total $67,000 loan amount, the SBA guaranteed $50,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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