Financing for Water, Sewer, and Pipeline Construction

Looking for commercial loans for water, sewer, and pipeline construction? An SBA loan may be just what you've been looking for. This $126,900 water, sewer, and pipeline construction loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Plainfield, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Old Second National Bank, based in Aurora, Illinois.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
PLAINFIELD, IL 60544

SBA Loan Lender

OLD SECOND NATIONAL BANK
37 S RIVER ST
AURORA, IL 60507

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

NAICS Code

234910 - Water, Sewer, and Pipeline Construction

Loan Approval Date

5/15/2001

Loan Approval Gross Amount

$126,900

Loan Approval from the SBA

Of the total $126,900 loan amount, the SBA guaranteed $107,865.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 Old Second National Bank 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:

Angel Investors

SBA Approved Banks in Aurora, Illinois

Getting a Business Loan in Illinois