Getting an SBA Loan for Wood Product Manufacturing

Looking for SBA loans for wood product manufacturing? The SBA may be the answer. This $49,850 wood product manufacturing loan was issued by a New York bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Grow America Fund Inc, out of New York, New York. The loan was granted and they received $49,850 to help grow their Cortland, New York business.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCTS
CORTLAND, NY 13045

SBA Loan Lender

GROW AMERICA FUND INC
708 THIRD AVENUE, SUITE 710
NEW YORK, NY 10017

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2499 - Wood Products

NAICS Code

321999 - Wood Product Manufacturing

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$49,850

Loan Approval from the SBA

Of the total $49,850 loan amount, the SBA guaranteed $39,880.

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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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