Borrowing Money for Heavy Construction

With these small business loans for heavy construction, the SBA guarantees the lender that the loan will be repaid. This heavy construction loan for $120,000 was given to an Indiana entrepreneur in 2003.

Getting a small business loan in Bloomfield, Indiana was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Bloomington, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
BLOOMFIELD, IN 47424

SBA Loan Lender

FIFTH THIRD BANK
3415 W 3RD ST
BLOOMINGTON, IN 47403

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1629 - Heavy Construction

NAICS Code

234990 - Heavy Construction

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 SBA loan was for $120,000. How would you spend $120,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 Bloomington, Indiana

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