How to Get a Loan for Water Well Drilling Contractors

With these business loans for water well drilling contractors, the SBA guarantees the lender that the loan will be repaid. This water well drilling contractors loan for $285,000 was given to a Virginia entrepreneur in 2000.

Getting a small business loan in Courtland, Virginia was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Southside Virginia, operating out of Emporia, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING
COURTLAND, VA 23837

SBA Loan Lender

THE BANK OF SOUTHSIDE VIRGINIA
1400 W ATLANTIC ST
EMPORIA, VA 23847

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to give fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1781 - Water Well Drilling

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

2/29/2000

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

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 3 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Bank Of Southside Virginia that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Emporia, Virginia

Virginia SBA Banks