Raising Money for Heavy and Civil Engineering Construction

With these bank loans for heavy and civil engineering construction, the SBA guarantees the lender that the loan will be repaid. This heavy and civil engineering construction loan for $719,000 was given to an Arizona entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tempe, Arizona was able to borrow $719,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $539,250 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION
TEMPE, AZ 85281

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237990 - Heavy and Civil Engineering Construction

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$719,000

Loan Approval from the SBA

Of the total $719,000 loan amount, the SBA guaranteed $539,250.

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 27 employees. The SBA loan documents indicated that the loan would help retain 27 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.

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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