Bank Loans for Construction Sand and Gravel Mining

Looking for bank loans for construction sand and gravel mining? Talk to a banker who works with the SBA. This $620,600 construction sand and gravel mining loan was issued by a Minnesota bank.

This company knew how to go about getting a business bank loan. Based in Leon, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL
LEON, IA 50144

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

1442 - Construction Sand and Gravel

NAICS Code

212321 - Construction Sand and Gravel Mining

Loan Approval Date

7/18/2000

Loan Approval Gross Amount

$620,600

Loan Approval from the SBA

Of the total $620,600 loan amount, the SBA guaranteed $465,450.

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 2 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 - How to Decide How Much to Raise

Banks in Minneapolis, Minnesota

Minnesota SBA Banks