Borrowing Money for Bridge and Tunnel Construction

Looking for loans for bridge and tunnel construction? Try the SBA. This $82,000 bridge and tunnel construction loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Roland, Oklahoma was able to borrow $82,000 from Bank - Oklahoma. The SBA made the loan possible by guaranteeing $69,700 of this Oklahoma small business loan.

SBA Loan Borrower

BELK BRIDGE INC
309 CHURCH STREET
ROLAND, OK 74954

SBA Loan Lender

BANK - OKLAHOMA
ONE WILLIAMS CTR
TULSA, OK 74172

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1622 - Bridge, Tunnel, and Elevated Highway Construction

NAICS Code

234120 - Bridge and Tunnel Construction

Loan Approval Date

3/21/2001

Loan Approval Gross Amount

$82,000

Loan Approval from the SBA

Of the total $82,000 loan amount, the SBA guaranteed $69,700.

More Information on This SBA Loan

The borrower, Belk Bridge Inc, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 8/31/2006.

Next Steps for Getting an SBA Loan

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Getting a Small Business Loan

SBA 7A Banks in Tulsa, Oklahoma

Getting an SBA Loan in Oklahoma

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