Raising Money for Excavation Contractors

With these business loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $69,000 was given to a South Dakota entrepreneur in 2002.

Getting a small business loan in Lead, South Dakota was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank, operating out of Fort Pierre, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
LEAD, SD 57754

SBA Loan Lender

FIRST NATIONAL BANK
119 N DEADWOOD AVE
FORT PIERRE, SD 57532

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

6/17/2002

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $58,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 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!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank and they will explain how you can get an SBA loan for your company.

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:

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Small Business Banks in Fort Pierre, South Dakota

South Dakota SBA 7A Banks