Get an SBA Loan for Excavation Contractors

Looking for bank loans for excavation contractors? The SBA may be the answer. This $40,000 excavation contractors loan was issued by a New Jersey bank.

This company knew how to go about getting a business bank loan. Based in Townsend, Delaware, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Commerce Bank, based in Flemington, New Jersey.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
TOWNSEND, DE 19734

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

4/14/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

SBA Approved Banks in Flemington, New Jersey

New Jersey SBA 7A Lenders