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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Sparta, Business Loans > Choiceone Bank Sparta Business Loans > Excavation Work Loan | ||||
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Alto, Michigan Bank for SBA Loans
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Loans for Excavation ContractorsLooking for loans for excavation contractors? An SBA loan may be just what you've been looking for. This $471,000 excavation contractors loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Choiceone Bank, out of Sparta, Michigan. The loan was granted and they received $471,000 to help grow their Alto, Michigan business. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender CHOICEONE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business 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. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 10/20/2000 Loan Approval Gross Amount $471,000 Loan Approval from the SBA Of the total $471,000 loan amount, the SBA guaranteed $353,250. 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 16 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $471,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Sparta, Michigan
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