Get an SBA Loan for Sawmill and Woodworking Machinery Manufacturing

Looking for loans for sawmill and woodworking machinery manufacturing? Talk to a banker who works with the SBA. This $25,000 sawmill and woodworking machinery manufacturing loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Cato, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Cayuga Lake National Bank, based in Union Springs, New York.

SBA Loan Borrower

COMPANY TYPE: WOODWORKING MACHINERY
CATO, NY 13033

SBA Loan Lender

CAYUGA LAKE NATIONAL BANK
3 CAYUGA ST
UNION SPRINGS, NY 13160

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.

SIC Code

3553 - Woodworking Machinery

NAICS Code

333210 - Sawmill and Woodworking Machinery Manufacturing

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 6 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cayuga Lake National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cayuga Lake National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Related Links:

Accountant's Role in Securing Financing

Find an SBA Lender in Union Springs, New York

SBA Participating Banks in New York