Construction, Mining, and Forestry Machinery Equipment Rental and Leasing Small Business Loans

With these small business loans for construction, mining, and forestry machinery equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This construction, mining, and forestry machinery equipment rental and leasing loan for $785,000 was given to an Utah entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Taylorsville, Utah was able to borrow $785,000 from Celtic Bank Corporation. The SBA made the loan possible by guaranteeing $588,750 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING
TAYLORSVILLE, UT 84118

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

7/10/2006

Loan Approval Gross Amount

$785,000

Loan Approval from the SBA

Of the total $785,000 loan amount, the SBA guaranteed $588,750.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Celtic Bank Corporation 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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