How to Get a Loan for Support Activities for Forestry

Looking for commercial loans for support activities for forestry? An SBA loan may be just what you've been looking for. This $45,000 support activities for forestry loan was issued by a New Mexico bank.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Western Bank, out of Alamogordo, New Mexico. The loan was granted and they received $45,000 to help grow their Alamogordo, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: FORESTRY SERVICES
ALAMOGORDO, NM 88310

SBA Loan Lender

WESTERN BANK
500 9TH & MARYLAND
ALAMOGORDO, NM 88310

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA 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.

SIC Code

0851 - Forestry Services

NAICS Code

115310 - Support Activities for Forestry

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Alamogordo NM, you ought to talk with a local Alamogordo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Alamogordo 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 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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