Borrowing Money for Water and Sewer Line and Related Structures Construction

With these loans for water and sewer line and related structures construction, the SBA guarantees the lender that the loan will be repaid. This water and sewer line and related structures construction loan for $250,000 was given to an Alabama entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Andalusia, Alabama was able to borrow $250,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $125,000 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER AND SEWER LINE AND RELATED STRUCTURES CONSTRUCTION
ANDALUSIA, AL 36420

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

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

NAICS Code

237110 - Water and Sewer Line and Related Structures Construction

Loan Approval Date

11/18/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 Wachovia 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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Where to Get an SBA Loan in Birmingham, Alabama

Browse All Business Loan Sources for Alabama