SBA Loans for Ready-Mix Concrete Manufacturing

With these SBA loans for ready-mix concrete manufacturing, the SBA guarantees the lender that the loan will be repaid. This ready-mix concrete manufacturing loan for $78,200 was given to a Wyoming entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Shoshone First Bank, out of Cody, Wyoming. The loan was granted and they received $78,200 to help grow their Lovell, Wyoming business.

SBA Loan Borrower

COMPANY TYPE: READY-MIX CONCRETE MANUFACTURING
LOVELL, WY 82431

SBA Loan Lender

SHOSHONE FIRST BANK
1401 SHERIDAN AVE
CODY, WY 82414

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 involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327320 - Ready-Mix Concrete Manufacturing

Loan Approval Date

12/1/2004

Loan Approval Gross Amount

$78,200

Loan Approval from the SBA

Of the total $78,200 loan amount, the SBA guaranteed $66,470.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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