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May 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Salt Lake City, Business Loans > Celtic Bank Corporation Salt Lake City Business Loans > Highway, Street, And Bridge Construction Loan | ||||
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Anna, Texas Bank for SBA Loans
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Getting an SBA Loan for Highway, Street, and Bridge ConstructionLooking for business loans for highway, street, and bridge construction? An SBA loan may be just what you've been looking for. This $830,000 highway, street, and bridge construction loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anna, Texas was able to borrow $830,000 from Celtic Bank Corporation. The SBA made the loan possible by guaranteeing $622,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION SBA Loan Lender CELTIC BANK CORPORATION Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237310 - Highway, Street, and Bridge Construction Loan Approval Date 10/4/2007 Loan Approval Gross Amount $830,000 Loan Approval from the SBA Of the total $830,000 loan amount, the SBA guaranteed $622,500. 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 49 employees. The SBA loan documents indicated that the loan would help retain 49 existing jobs. Next Steps for Getting an SBA Loan 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Celtic Bank Corporation and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in Salt Lake City, Utah SBA Participating Banks in Utah
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