Logging Commercial Loans

Looking for commercial loans for logging? The SBA may be the answer. This $150,000 logging loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beaumont, Mississippi was able to borrow $150,000 from Community Bank, Ellisville. The SBA made the loan possible by guaranteeing $127,500 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: LOGGING
BEAUMONT, MS 39423

SBA Loan Lender

COMMUNITY BANK, ELLISVILLE
9TH ST & 16TH AVE
LAUREL, MS 39440

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

113310 - Logging

Loan Approval Date

8/5/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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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