Commercial Loans for Brick, Stone, and Related Construction Material Merchant Wholesalers

With these commercial loans for brick, stone, and related construction material merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This brick, stone, and related construction material merchant wholesalers loan for $743,000 was given to a Minnesota entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Paul, Minnesota was able to borrow $743,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $557,250 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
ST. PAUL, MN 55114

SBA Loan Lender

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

This SBA 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.

NAICS Code

423320 - Brick, Stone, and Related Construction Material Merchant Wholesalers

Loan Approval Date

8/11/2006

Loan Approval Gross Amount

$743,000

Loan Approval from the SBA

Of the total $743,000 loan amount, the SBA guaranteed $557,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

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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