Loans for Excavation Contractors

With these loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $19,900 was given to a Montana entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Billings, Montana, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Yellowstone Bank, based in Billings, Montana.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
BILLINGS, MT 59101

SBA Loan Lender

YELLOWSTONE BANK
3010 THIRD AVE NORTH
BILLINGS, MT 59101

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

11/30/2001

Loan Approval Gross Amount

$19,900

Loan Approval from the SBA

Of the total $19,900 loan amount, the SBA guaranteed $16,915.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Dealing With Venture Capitalists

Small Business Banks in Billings, Montana

Getting an SBA Loan in Montana