Borrowing Money for Crushed and Broken Stone Mining and Quarrying

Looking for loans for crushed and broken stone mining and quarrying? Talk to a banker who works with the SBA. This $880,000 crushed and broken stone mining and quarrying loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rainbow City, Alabama was able to borrow $880,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $660,000 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: CRUSHED AND BROKEN STONE MINING AND QUARRYING
RAINBOW CITY, AL 35906

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

212319 - Crushed and Broken Stone Mining and Quarrying

Loan Approval Date

9/26/2001

Loan Approval Gross Amount

$880,000

Loan Approval from the SBA

Of the total $880,000 loan amount, the SBA guaranteed $660,000.

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 28 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 27 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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