Borrowing Money for Structural Steel and Precast Concrete Contractors

With these loans for structural steel and precast concrete contractors, the SBA guarantees the lender that the loan will be repaid. This structural steel and precast concrete contractors loan for $54,400 was given to a Texas entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Gecu, based in El Paso, Texas.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL AND PRECAST CONCRETE CONTRACTORS
EL PASO, TX 79912

SBA Loan Lender

GECU
7227 VISCOUNT BLVD
EL PASO, TX 79925

This SBA business 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

238120 - Structural Steel and Precast Concrete Contractors

Loan Approval Date

7/3/2007

Loan Approval Gross Amount

$54,400

Loan Approval from the SBA

Of the total $54,400 loan amount, the SBA guaranteed $27,200.

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 65 employees. This SBA loan request indicated that the loan would help retain 65 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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