Excavation Contractors Business Loans

Looking for business loans for excavation contractors? Talk to a banker who works with the SBA. This $140,000 excavation contractors loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alpena, Michigan was able to borrow $140,000 from First Fed. - Northern Michigan. The SBA made the loan possible by guaranteeing $119,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
ALPENA, MI 49707

SBA Loan Lender

FIRST FED. - NORTHERN MICHIGAN
100 S SECOND AVE
ALPENA, MI 49707

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

3/6/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

SBA 7A Banks in Alpena, Michigan

Getting a Business Loan in Michigan