Raising Money for Asphalt Paving Mixture and Block Manufacturing

With these business loans for asphalt paving mixture and block manufacturing, the SBA guarantees the lender that the loan will be repaid. This asphalt paving mixture and block manufacturing loan for $350,000 was given to a Pennsylvania entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Omega Bank, out of Lewisburg, Pennsylvania. The loan was granted and they received $350,000 to help grow their Shamokin, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: ASPHALT PAVING MIXTURES AND BLOCKS
SHAMOKIN, PA 17872

SBA Loan Lender

OMEGA BANK
7409 W BRANCH HWY
LEWISBURG, PA 17837

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2951 - Asphalt Paving Mixtures and Blocks

NAICS Code

324121 - Asphalt Paving Mixture and Block Manufacturing

Loan Approval Date

2/25/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Omega Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Investor Turnoffs

Small Business Banks in Lewisburg, Pennsylvania

SBA Pennsylvania Lenders