Financing for Highway and Street Construction

With these commercial loans for highway and street construction, the SBA guarantees the lender that the loan will be repaid. This highway and street construction loan for $28,500 was given to a Pennsylvania entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Latrobe, Pennsylvania was able to borrow $28,500 from Rbs Citizens. The SBA made the loan possible by guaranteeing $14,250 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
LATROBE, PA 15650

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLZ
PROVIDENCE, RI 02903

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$28,500

Loan Approval from the SBA

Of the total $28,500 loan amount, the SBA guaranteed $14,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Rbs Citizens 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.

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