Bank Loans for Excavation Contractors

With these bank loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $440,000 was given to an Oklahoma entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in El Reno, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was The Bank Of Union, based in El Reno, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
EL RENO, OK 73036

SBA Loan Lender

THE BANK OF UNION
2000 S COUNTRY CLUB RD
EL RENO, OK 73036

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

9/11/2002

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

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 loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Union 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 Union 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 Cash Advances

SBA Banks in El Reno, Oklahoma

SBA Lenders in Oklahoma