Getting an SBA Loan for Excavation Contractors

Looking for commercial loans for excavation contractors? Talk to a banker who works with the SBA. This $75,000 excavation contractors loan was issued by a Tennessee bank.

This business knew how to go about getting a business bank loan. Based in Decaturville, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Community So. Bank D.B.A Commun, based in Parsons, Tennessee.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
DECATURVILLE, TN 38329

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

6/4/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Equity Financing

Where to Get an SBA Loan in Parsons, Tennessee

Tennessee SBA 7A Lenders