Business Loans for Timber Tract Operations

With these business loans for timber tract operations, the SBA guarantees the lender that the loan will be repaid. This timber tract operations loan for $114,000 was given to a Michigan entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Coldwater, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Century Bank And Trust, based in Coldwater, Michigan.

SBA Loan Borrower

COMPANY TYPE: TIMBER TRACT OPERATIONS
COLDWATER, MI 49036

SBA Loan Lender

CENTURY BANK AND TRUST
100 W CHICAGO ST
COLDWATER, MI 49036

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

113110 - Timber Tract Operations

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$114,000

Loan Approval from the SBA

Of the total $114,000 loan amount, the SBA guaranteed $57,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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.

Related Links:

Direct Public Offerings

Best Coldwater, Michigan Banks for Small Business

Michigan SBA Bank Lenders