Borrowing Money for Construction Sand and Gravel Mining

With these small business loans for construction sand and gravel mining, the SBA guarantees the lender that the loan will be repaid. This construction sand and gravel mining loan for $115,000 was given to a Missouri entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lebanon, Missouri was able to borrow $115,000 from Bank Of Urbana. The SBA made the loan possible by guaranteeing $57,500 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL
LEBANON, MO 65536

SBA Loan Lender

BANK OF URBANA
109 N MAIN ST
URBANA, MO 65767

The lender provided this commercial 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.

SIC Code

1442 - Construction Sand and Gravel

NAICS Code

212321 - Construction Sand and Gravel Mining

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

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 4 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks in Urbana, Missouri

Getting an SBA Loan in Missouri