Borrowing Money for Drywall, Plastering, Acoustical, and Insulation Contractors

With these bank loans for drywall, plastering, acoustical, and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall, plastering, acoustical, and insulation contractors loan for $1,278,700 was given to a California entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in San Jose, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: OPERATORS OF NONRESIDENTAL BUILDINGS
SAN JOSE, CA 95126

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

This SBA small business loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6512 - Operators of Nonresidental Buildings

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$1,278,700

Loan Approval from the SBA

Of the total $1,278,700 loan amount, the SBA guaranteed $881,370.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 90 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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