Excavation Contractors Small Business Loans

With these small business loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $500,000 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St Cloud, Minnesota was able to borrow $500,000 from State Bank Of Kimball. The SBA made the loan possible by guaranteeing $375,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
ST CLOUD, MN 56301

SBA Loan Lender

STATE BANK OF KIMBALL
24952 CNTY RD 7
SAINT AUGUSTA, MN 56301

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

3/24/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 17 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank Of Kimball are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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