Getting an SBA Loan for Highway, Street, and Bridge Construction

With these business loans for highway, street, and bridge construction, the SBA guarantees the lender that the loan will be repaid. This highway, street, and bridge construction loan for $636,000 was given to an Oklahoma entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Stillwater, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Capital Bank, based in Guthrie, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION
STILLWATER, OK 74075

SBA Loan Lender

FIRST CAPITAL BANK
224 E OKLAHOMA AVE
GUTHRIE, OK 73044

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 was started 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

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$636,000

Loan Approval from the SBA

Of the total $636,000 loan amount, the SBA guaranteed $477,000.

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 32 employees. The loan application did not indicate that the small business promised to use the money 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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