Heavy Construction Small Business Loans

Looking for small business loans for heavy construction? Talk to a banker who works with the SBA. This $72,000 heavy construction loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodland, Mississippi was able to borrow $72,000 from Bank Of Okolona. The SBA made the loan possible by guaranteeing $61,200 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING
WOODLAND, MS 39776

SBA Loan Lender

BANK OF OKOLONA
227 W MAIN ST
OKOLONA, MS 38860

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7353 - Heavy Construction Equipment Rental and Leasing

NAICS Code

234990 - Heavy Construction

Loan Approval Date

4/24/2001

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. 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 funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA Approved Banks in Okolona, Mississippi

Mississippi SBA 7A Banks