Financing for Excavation Contractors

Looking for commercial loans for excavation contractors? The SBA may be the answer. This $127,500 excavation contractors loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chandler, Arizona was able to borrow $127,500 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $63,750 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
CHANDLER, AZ 85224

SBA Loan Lender

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

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

235930 - Excavation Contractors

Loan Approval Date

7/16/2001

Loan Approval Gross Amount

$127,500

Loan Approval from the SBA

Of the total $127,500 loan amount, the SBA guaranteed $63,750.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Chandler AZ, you ought to talk with a local Chandler SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chandler businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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