Business Loans for Water Well Drilling Contractors

With these business loans for water well drilling contractors, the SBA guarantees the lender that the loan will be repaid. This water well drilling contractors loan for $150,000 was given to a Florida entrepreneur in 2001.

Getting a small business loan in Venice, Florida was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Colonial Bank, operating out of Venice, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING
VENICE, FL 34293

SBA Loan Lender

COLONIAL BANK
160 POINTE LOOP DR
VENICE, FL 34293

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1781 - Water Well Drilling

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

2/22/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Colonial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Colonial 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:

Borrowing Money from Friends and Family

SBA 7A Banks for Venice, Florida Loans

SBA Lenders in Florida