Small Business Loans for Construction Sand and Gravel Mining

With these small business 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 $215,000 was given to a New York entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Castile, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was The Bank Of Castile, based in Castile, New York.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL
CASTILE, NY 14427

SBA Loan Lender

THE BANK OF CASTILE
50 N MAIN ST
CASTILE, NY 14427

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1442 - Construction Sand and Gravel

NAICS Code

212321 - Construction Sand and Gravel Mining

Loan Approval Date

8/24/2000

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

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 loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Castile had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Castile 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.

Related Links:

How Equity Dilution Works

SBA Approved Banks in Castile, New York

SBA New York Lenders