SBA Loans for Site Preparation Contractors

With these SBA loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $384,500 was given to an Ohio entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Richland Trust Company, out of Mansfield, Ohio. The loan was granted and they received $384,500 to help grow their Bellville, Ohio business.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
BELLVILLE, OH 44813

SBA Loan Lender

THE RICHLAND TRUST COMPANY
3 N MAIN ST
MANSFIELD, OH 44902

This lender issued this business loan under the SBA's 7A loan, 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.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

1/19/2005

Loan Approval Gross Amount

$384,500

Loan Approval from the SBA

Of the total $384,500 loan amount, the SBA guaranteed $288,375.

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 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Richland Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Investor Turnoffs

SBA Participating Banks in Mansfield, Ohio

Getting an SBA Loan in Ohio