Excavation Contractors Bank Loans

Looking for bank loans for excavation contractors? An SBA loan may be just what you've been looking for. This $250,000 excavation contractors loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kankakee, Illinois was able to borrow $250,000 from Harris National Association. The SBA made the loan possible by guaranteeing $187,500 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
KANKAKEE, IL 60901

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
50 N BROCKWAY ST
PALATINE, IL 60067

This lender issued this SBA loan under the 7A SBA program, 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.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Kankakee IL, you ought to talk with a local Kankakee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kankakee businesses.

We can help you find the best banks for small businesses in Kankakee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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