Raising Money for Excavation Contractors

Looking for business loans for excavation contractors? Talk to a banker who works with the SBA. This $95,000 excavation contractors loan was issued by an Alabama bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jasper, Alabama was able to borrow $95,000 from Traders & Farmers Bank. The SBA made the loan possible by guaranteeing $80,750 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
JASPER, AL 35503

SBA Loan Lender

TRADERS & FARMERS BANK
5329 CURRY HWY
JASPER, AL 35503

This lender issued this particular debt financing 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.

SIC Code

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

3/2/2001

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Jasper AL, you ought to talk with a local Jasper SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jasper businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Traders & Farmers Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Cash Advances

Small Business Banks in Jasper, Alabama

Alabama SBA Banks