Excavation Contractors SBA Loans

Looking for SBA loans for excavation contractors? The SBA may be the answer. This $133,400 excavation contractors loan was issued by an Iowa bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Plus, out of Estherville, Iowa. The loan was granted and they received $133,400 to help grow their Gruver, Iowa business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
GRUVER, IA 51344

SBA Loan Lender

BANK PLUS
1202 CENTRAL AVE
ESTHERVILLE, IA 51334

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$133,400

Loan Approval from the SBA

Of the total $133,400 loan amount, the SBA guaranteed $113,390.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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. Bank Plus had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Plus 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:

The Friends and Family Network

SBA 7A Lenders in Estherville, Iowa

SBA Iowa Lenders