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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Venice, Business Loans > Colonial Bank Venice Business Loans > Excavation Work Loan | ||||
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Colonial Bank Business Loans
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Excavation Contractors Small Business LoansWith these small business loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $150,000 was given to a Florida entrepreneur in 2000. This company knew how to go about getting a business bank loan. Based in North Port, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Colonial Bank, based in Venice, Florida. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender COLONIAL BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 4/24/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding From a Venture Capitalist SBA 7A Lenders in Venice, Florida
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