Financing for Excavation Contractors

With these commercial loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $79,700 was given to an Ohio entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marshallville, Ohio was able to borrow $79,700 from First National Bank. The SBA made the loan possible by guaranteeing $63,760 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
MARSHALLVILLE, OH 44645

SBA Loan Lender

FIRST NATIONAL BANK
112 W MARKET ST & ORRVILLE
ORRVILLE, OH 44667

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

2/15/2000

Loan Approval Gross Amount

$79,700

Loan Approval from the SBA

Of the total $79,700 loan amount, the SBA guaranteed $63,760.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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.

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