Mining Machinery and Equipment Manufacturing Commercial Loans

With these commercial loans for mining machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This mining machinery and equipment manufacturing loan for $76,000 was given to an Idaho entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Middleton, Idaho was able to borrow $76,000 from D. L. Evans Bank. The SBA made the loan possible by guaranteeing $64,600 of this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: MINING MACHINERY AND EQUIPMENT MANUFACTURING
MIDDLETON, ID 83644

SBA Loan Lender

D. L. EVANS BANK
397 N OVERLAND AVE
BURLEY, ID 83318

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333131 - Mining Machinery and Equipment Manufacturing

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$76,000

Loan Approval from the SBA

Of the total $76,000 loan amount, the SBA guaranteed $64,600.

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 application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like D. L. Evans Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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