Borrowing Money for Construction and Mining Machinery and Equipment Wholesale

Looking for loans for construction and mining machinery and equipment wholesale? Try the SBA. This $16,650 construction and mining machinery and equipment wholesale loan was issued by a Wisconsin bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Royal Bank, out of Hillsboro, Wisconsin. The loan was granted and they received $16,650 to help grow their Hillsboro, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY
HILLSBORO, WI 54634

SBA Loan Lender

ROYAL BANK
840 WATER ST
HILLSBORO, WI 54634

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5082 - Construction and Mining Machinery

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

3/12/2001

Loan Approval Gross Amount

$16,650

Loan Approval from the SBA

Of the total $16,650 loan amount, the SBA guaranteed $14,152.

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 only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Obtaining Funding - Friends and Family

SBA Approved Banks in Hillsboro, Wisconsin

Find an SBA Lender in Wisconsin