Financing for Water Well Drilling Contractors

With these commercial loans for water well drilling contractors, the SBA guarantees the lender that the loan will be repaid. This water well drilling contractors loan for $73,900 was given to a Washington entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Newman Lake, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Wheatland Bank, based in Spokane, Washington.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING CONTRACTORS
NEWMAN LAKE, WA 99025

SBA Loan Lender

WHEATLAND BANK
222 N WALL, STE 100
SPOKANE, WA 99201

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

12/13/2002

Loan Approval Gross Amount

$73,900

Loan Approval from the SBA

Of the total $73,900 loan amount, the SBA guaranteed $62,815.

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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $73,900 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.

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