Bank Loans for Masonry Contractors

Looking for bank loans for masonry contractors? An SBA loan may be just what you've been looking for. This $200,000 masonry contractors loan was issued by a New York bank.

Getting a small business loan in Middletown, New York was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Orange County Trust Company, operating out of Middletown, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
MIDDLETOWN, NY 10940

SBA Loan Lender

ORANGE COUNTY TRUST COMPANY
212 DOLSON AVE
MIDDLETOWN, NY 10940

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238140 - Masonry Contractors

Loan Approval Date

3/10/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Orange County Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Bank Credit Lines

Find an SBA Lender in Middletown, New York

Find an SBA Lender in New York