Support Activities for Nonmetallic Minerals (except Fuels)

213115

BayFirst National Bank (FL)

Headquartered in St. Petersburg, BayFirst Financial offers personal and business banking services, including checking & savings accounts, loans, and more.

Average SBA Loan Rate over Prime (Prime is 7%) 4.59

Change of Ownership

Existing or more than 2 years old

International Trade Loans

SBA Loans for Support Activities for Nonmetallic Minerals (except Fuels): Financing Growth in Mining Services

Introduction

Support activities for nonmetallic minerals (except fuels) provide critical services that enable mining and quarrying operations to function efficiently. Classified under NAICS 213115 – Support Activities for Nonmetallic Minerals (except Fuels), this sector includes companies that perform exploration, drilling, blasting, and other services related to the extraction of materials like stone, sand, gravel, clay, and other nonmetallic minerals. These businesses are essential to construction, manufacturing, and infrastructure projects. However, they face unique challenges including high equipment costs, fluctuating demand, environmental regulations, and cash flow pressures tied to contract-based income.

This is where SBA Loans for Mining Support Services can make a difference. Backed by the U.S. Small Business Administration, SBA loans provide longer repayment terms, lower down payments, and government-backed guarantees. These loans help businesses purchase equipment, manage payroll, comply with regulations, and stabilize operations during industry cycles.

In this article, we’ll explore NAICS 213115, the financial challenges service providers face, how SBA loans provide solutions, and answers to frequently asked questions from business owners in the mining support sector.

Industry Overview: NAICS 213115

Support Activities for Nonmetallic Minerals (except Fuels) cover services such as:

Exploration and geological surveying
Drilling and blasting services
Overburden removal and site preparation
Mine site maintenance and reclamation
Logistics and support for quarry operations

This industry plays a behind-the-scenes but crucial role in supplying raw materials for construction, glass, ceramics, and manufacturing.

Common Pain Points in Mining Support Financing

From Reddit’s r/mining, r/engineering, and Quora discussions, businesses in this sector often highlight these challenges:

High Equipment Costs – Drills, blasting tools, and excavation machinery are capital-intensive.
Volatile Demand – Demand fluctuates with construction activity and industrial markets.
Environmental Compliance – Meeting state and federal reclamation and safety standards increases expenses.
Labor Costs – Recruiting and retaining skilled miners, drillers, and technicians is costly.
Cash Flow Gaps – Project-based revenue often means long waits for payment after major expenses are incurred.

How SBA Loans Help Mining Support Businesses

SBA financing provides affordable, flexible capital that helps support service firms scale operations, improve safety, and remain financially stable.

SBA 7(a) Loan

Best for: Working capital, payroll, or supplier payments
Loan size: Up to $5 million
Why it helps: Provides liquidity to cover ongoing expenses while awaiting client payments

SBA 504 Loan

Best for: Equipment, facilities, or site upgrades
Loan size: Up to $5.5 million
Why it helps: Ideal for investing in heavy machinery, storage facilities, or repair shops

SBA Microloans

Best for: Small or startup mining service companies
Loan size: Up to $50,000
Why it helps: Useful for small tools, safety training, or marketing contracts

SBA Disaster Loans

Best for: Businesses impacted by natural disasters, supply chain issues, or market downturns
Loan size: Up to $2 million
Why it helps: Provides recovery funds for damaged equipment, facility repairs, or lost income

Step-by-Step Guide to Getting an SBA Loan

Check Eligibility – Must be a U.S.-based, for-profit mining support service with good personal credit (typically 650+)
Prepare Financial Documents – Include tax returns, P&L statements, equipment quotes, and service contracts
Find an SBA-Approved Lender – Some lenders specialize in industrial and natural resource-related financing
Submit Application – Provide a business plan highlighting contracts, compliance, and operational strategy
Underwriting & Approval – SBA guarantees reduce lender risk. Approval usually takes 30–90 days

FAQ: SBA Loans for Support Activities for Nonmetallic Minerals

Why do banks often deny loans to mining support businesses?

Banks may view them as risky due to high equipment costs, cyclical demand, and regulatory compliance. SBA guarantees reduce this risk and improve approval chances.

Can SBA loans finance drilling rigs and blasting equipment?

Yes. SBA 7(a) and 504 loans can fund heavy machinery, safety equipment, and site upgrades.

What down payment is required?

SBA loans typically require 10–20% down, compared to 25–30% for conventional financing.

Are startup mining support services eligible?

Yes. Entrepreneurs with industry experience and client contracts may qualify for SBA microloans or 7(a) financing.

What repayment terms are available?

Working capital: Up to 7 years
Equipment/facilities: Up to 10 years
Real estate/workshops: Up to 25 years

Can SBA loans support environmental compliance and safety programs?

Absolutely. Many businesses use SBA financing to invest in reclamation efforts, OSHA compliance, and worker safety initiatives.

Final Thoughts

The Support Activities for Nonmetallic Minerals (except Fuels) sector is vital to construction and manufacturing but faces financial hurdles tied to equipment, compliance, and cash flow cycles. SBA Loans for Mining Support Businesses provide affordable, flexible financing to stabilize operations, invest in growth, and manage compliance obligations.

Whether you provide drilling, blasting, or site support, SBA financing can provide the resources you need. Connect with an SBA-approved lender today and explore your funding options under NAICS 213115.

Filters

Featured