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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Concrete Work Loan | ||||
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Business Loans for Houston Small Business Owners
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Small Business Loans for Concrete ContractorsLooking for small business loans for concrete contractors? The SBA may be the answer. This $1,095,000 concrete contractors loan was issued by a Missouri bank. This company knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Ge Cap. Small Business Finan Corp, based in St. Louis, Missouri. SBA Loan Borrower COMPANY TYPE: CONCRETE WORK SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 1771 - Concrete Work NAICS Code 235710 - Concrete Contractors Loan Approval Date 10/31/2002 Loan Approval Gross Amount $1,095,000 Loan Approval from the SBA Of the total $1,095,000 loan amount, the SBA guaranteed $821,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 45 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in St. Louis, Missouri
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