Excavation Contractors Business Loans

With these business loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $83,500 was given to a Wisconsin entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Hudson, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Associated Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
HUDSON, WI 54016

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$83,500

Loan Approval from the SBA

Of the total $83,500 loan amount, the SBA guaranteed $70,975.

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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Associated Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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