Getting an SBA Loan for Site Preparation Contractors

With these commercial loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $100,000 was given to a Virginia entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Blacksburg, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was National Bank - Blacksburg, based in Blacksburg, Virginia.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
BLACKSBURG, VA 24060

SBA Loan Lender

NATIONAL BANK - BLACKSBURG
100 S MAIN ST
BLACKSBURG, VA 24060

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Bank - Blacksburg had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Bank - Blacksburg made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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