Getting an SBA Loan for Excavation Contractors

Looking for commercial loans for excavation contractors? The SBA may be the answer. This $72,000 excavation contractors loan was issued by a North Dakota bank.

This business knew how to go about getting a business bank loan. Based in Beulah, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Starion Financial, based in Mandan, North Dakota.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
BEULAH, ND 58523

SBA Loan Lender

STARION FINANCIAL
109 1ST ST NW
MANDAN, ND 58554

This lender issued this particular business 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

3/16/2000

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $57,600.

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 2 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $72,000 loan. Remember, feel the fear, and do it anyway.

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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