Getting an SBA Loan for Excavation Contractors

With these commercial loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $600,000 was given to a Michigan entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Battle Creek, Michigan was able to borrow $600,000 from Southern Michigan Bank & Trust. The SBA made the loan possible by guaranteeing $450,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
BATTLE CREEK, MI 49015

SBA Loan Lender

SOUTHERN MICHIGAN BANK & TRUST
51 W PEARL ST
COLDWATER, MI 49036

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Battle Creek MI, you ought to talk with a local Battle Creek SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Battle Creek businesses.

This SBA loan was for $600,000. How would you spend $600,000 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:

The Friends and Family Network

SBA 7A Lenders in Coldwater, Michigan

Getting a Business Loan in Michigan