How to Get a Loan for Excavation Contractors

With these SBA loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $170,500 was given to a West Virginia entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with United Bank, out of Huntington, West Virginia. The loan was granted and they received $170,500 to help grow their Huntington, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
HUNTINGTON, WV 25705

SBA Loan Lender

UNITED BANK
2889 3RD AVE
HUNTINGTON, WV 25702

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$170,500

Loan Approval from the SBA

Of the total $170,500 loan amount, the SBA guaranteed $127,875.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United 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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