Raising Money for Heavy and Civil Engineering Construction

With these bank loans for heavy and civil engineering construction, the SBA guarantees the lender that the loan will be repaid. This heavy and civil engineering construction loan for $1,916,180 was given to a Texas entrepreneur in 2005.

Getting a small business loan in Midlothian, Texas was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa, operating out of Salt Lake City, Utah. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION
MIDLOTHIAN, TX 76085

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237990 - Heavy and Civil Engineering Construction

Loan Approval Date

5/4/2005

Loan Approval Gross Amount

$1,916,180

Loan Approval from the SBA

Of the total $1,916,180 loan amount, the SBA guaranteed $1,437,135.

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

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Midlothian or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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