Financing for Excavation Contractors

With these loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $73,000 was given to an Oklahoma entrepreneur in 2007.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Community Bank & Trust, out of Neosho, Missouri. The loan was granted and they received $73,000 to help grow their Wyandotte, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
WYANDOTTE, OK 74370

SBA Loan Lender

COMMUNITY BANK & TRUST
100 S WOOD ST
NEOSHO, MO 64850

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

1/30/2007

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Accountant's Role in Securing Financing

Find an SBA Lender in Neosho, Missouri

SBA Missouri Lenders