Getting an SBA Loan for Excavation Contractors

Looking for commercial loans for excavation contractors? The SBA may be the answer. This $600,000 excavation contractors loan was issued by a California bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st Centennial Bank, out of Brea, California. The loan was granted and they received $600,000 to help grow their Escondido, California business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
ESCONDIDO, CA 92025

SBA Loan Lender

1ST CENTENNIAL BANK
10 POINTE DR
BREA, CA 92821

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to offer quick 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.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 50 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $600,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Famous Venture Capitalists

Small Business Banks in Brea, California

California SBA 7A Lenders