Small Business Loans for Site Preparation Contractors

Looking for small business loans for site preparation contractors? Try the SBA. This $48,000 site preparation contractors loan was issued by an Iowa bank.

This company knew how to go about getting a business bank loan. Based in Guthrie Center, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Peoples Trust & Savings Bank, based in Guthrie Center, Iowa.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
GUTHRIE CENTER, IA 50115

SBA Loan Lender

PEOPLES TRUST & SAVINGS BANK
401 MAIN ST
GUTHRIE CENTER, IA 50115

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

1/15/2003

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

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 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples Trust & Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples Trust & Savings Bank 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.

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