Borrowing Money for Construction Sand and Gravel Mining

With these loans for construction sand and gravel mining, the SBA guarantees the lender that the loan will be repaid. This construction sand and gravel mining loan for $409,000 was given to a Michigan entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cass City, Michigan was able to borrow $409,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $306,750 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING
CASS CITY, MI 48726

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

212321 - Construction Sand and Gravel Mining

Loan Approval Date

6/26/2003

Loan Approval Gross Amount

$409,000

Loan Approval from the SBA

Of the total $409,000 loan amount, the SBA guaranteed $306,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $409,000. How would you spend $409,000 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.

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