Bank Loans for Construction Sand and Gravel Mining

Looking for bank loans for construction sand and gravel mining? Talk to a banker who works with the SBA. This $25,000 construction sand and gravel mining loan was issued by a Missouri bank.

This small firm knew how to go about getting a business bank loan. Based in Hermitage, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Commerce Bank, based in Kansas City, Missouri.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING
HERMITAGE, MO 65668

SBA Loan Lender

COMMERCE BANK
1000 WALNUT ST
KANSAS CITY, MO 64141

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 was started in 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

212321 - Construction Sand and Gravel Mining

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 only one employee. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Hermitage MO, you ought to talk with a local Hermitage SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hermitage businesses.

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:

Banking Deregulation's Effects on Entrepreneurship

Find an SBA Lender in Kansas City, Missouri

SBA Participating Banks in Missouri