Shoshone First Bank Gives SBA Loan to Highway And Street Construction Company

WyomingBank loans are available to Wyoming firms through the SBA. In this case, a Wyoming bank provides the loan.

You can learn something about getting a small business loan in Lovell, Wyoming by studying this loan to a local company, made back in 2005. Banks like Shoshone First Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
LOVELL, WY 82431

SBA Loan Lender

SHOSHONE FIRST BANK
1401 SHERIDAN AVE
CODY, WY 82414

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1611 - Highway and Street Construction

NAICS Code

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$380,000

Loan Approval from the SBA

Of the total $380,000 loan amount, the SBA guaranteed $285,000.

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 13 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shoshone First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shoshone First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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