Borrowing Money for Excavation Contractors

With these bank loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $128,500 was given to a Colorado entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First National Bank - Rockies, out of Grand Junction, Colorado. The loan was granted and they received $128,500 to help grow their Silt, Colorado business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
SILT, CO 81652

SBA Loan Lender

FIRST NATIONAL BANK - ROCKIES
2452 US HWY 6 & 50
GRAND JUNCTION, CO 81505

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

2/26/2001

Loan Approval Gross Amount

$128,500

Loan Approval from the SBA

Of the total $128,500 loan amount, the SBA guaranteed $109,225.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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Where to Get an SBA Loan in Grand Junction, Colorado

Find an SBA Lender in Colorado