Getting an SBA Loan for Foundation, Structure, and Building Exterior Contractors

With these commercial loans for foundation, structure, and building exterior contractors, the SBA guarantees the lender that the loan will be repaid. This foundation, structure, and building exterior contractors loan for $50,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Middletown, New York was able to borrow $50,000 from Provident Bank. The SBA made the loan possible by guaranteeing $25,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FOUNDATION, STRUCTURE, AND BUILDING EXTERIOR CONTRACTORS
MIDDLETOWN, NY 10940

SBA Loan Lender

PROVIDENT BANK
400 RELLA BLVD
MONTEBELLO, NY 10901

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238190 - Foundation, Structure, and Building Exterior Contractors

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Middletown NY, you ought to talk with a local Middletown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Middletown businesses.

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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