SBA Loan from Loans From Old Closed Lenders Helps Excavation Work Company

Loans From Old Closed Lenders is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alaska entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Loans From Old Closed Lenders, out of Washington, District of Columbia. The loan was granted and they received $74,500 to help grow their Anchorage, Alaska business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
ANCHORAGE, AK 99503

SBA Loan Lender

LOANS FROM OLD CLOSED LENDERS
409 3RD STREET S.W., SUITE 83
WASHINGTON, DC 20416

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

1/1/2000

Loan Approval Gross Amount

$74,500

Loan Approval from the SBA

Of the total $74,500 loan amount, the SBA guaranteed $59,600.

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 8 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Loans From Old Closed Lenders so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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