Raising Money for Water Well Drilling Contractors

With these business loans for water well drilling contractors, the SBA guarantees the lender that the loan will be repaid. This water well drilling contractors loan for $1,538,000 was given to a New York entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lackawanna, New York was able to borrow $1,538,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $738,240 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING
LACKAWANNA, NY 14218

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1781 - Water Well Drilling

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$1,538,000

Loan Approval from the SBA

Of the total $1,538,000 loan amount, the SBA guaranteed $738,240.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 55 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,538,000 loan. Remember, where there is a will, there is a way!

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:

Small Business Loan

SBA Participating Banks in Amherst, New York

New York SBA 7A Lenders