Bank Loans for Site Preparation Contractors
With these bank loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $56,000 was given to a Pennsylvania entrepreneur in 2003.
This small firm knew how to go about getting a business bank loan. Based in Oliphant Furnance, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National City Bank, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: HEAVY CONSTRUCTION
OLIPHANT FURNANCE, PA 15401
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
1629 - Heavy Construction
238910 - Site Preparation Contractors
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $56,000 loan amount, the SBA guaranteed $47,600.
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 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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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