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May 9, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Perry, Business Loans > The Bank Of Castile Perry Business Loans > Excavation Work Loan | ||||
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Business Loans for Middleport Entrepreneurs
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Where to Get Capital for Excavation ContractorsLooking for small business loans for excavation contractors? An SBA loan may be just what you've been looking for. This $78,000 excavation contractors loan was issued by a New York bank. This company knew how to go about getting a business bank loan. Based in Middleport, New York, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was The Bank Of Castile, based in Perry, New York. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender THE BANK OF CASTILE This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. 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 12/11/2001 Loan Approval Gross Amount $78,000 Loan Approval from the SBA Of the total $78,000 loan amount, the SBA guaranteed $66,300. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Middleport or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Perry, New York
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