Borrowing Money for Septic Tank and Related Services

Looking for bank loans for septic tank and related services? Try the SBA. This $507,500 septic tank and related services loan was issued by a Delaware bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bear, Delaware was able to borrow $507,500 from Artisans' Bank. The SBA made the loan possible by guaranteeing $380,625 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: SEPTIC TANK AND RELATED SERVICES
BEAR, DE 19701

SBA Loan Lender

ARTISANS' BANK
1555 S GOVERNOR'S AVE
DOVER, DE 19904

This small business 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

562991 - Septic Tank and Related Services

Loan Approval Date

11/26/2001

Loan Approval Gross Amount

$507,500

Loan Approval from the SBA

Of the total $507,500 loan amount, the SBA guaranteed $380,625.

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

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Banks in Dover, Delaware

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