Financing for Poured Concrete Foundation and Structure Contractors

Looking for loans for poured concrete foundation and structure contractors? An SBA loan may be just what you've been looking for. This $77,400 poured concrete foundation and structure contractors loan was issued by an Utah bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Mountain America Fcu, out of West Jordan, Utah. The loan was granted and they received $77,400 to help grow their Cedar City, Utah business.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
CEDAR CITY, UT 84720

SBA Loan Lender

MOUNTAIN AMERICA FCU
7181 S CAMPUS VIEW DR
WEST JORDAN, UT 84084

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

8/15/2003

Loan Approval Gross Amount

$77,400

Loan Approval from the SBA

Of the total $77,400 loan amount, the SBA guaranteed $65,790.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds 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.

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

Business Line of Credit

SBA 7A Banks in West Jordan, Utah

Utah SBA 7A Lenders