Getting an SBA Loan for Logging

Looking for business loans for logging? Try the SBA. This $150,000 logging loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with 1st National Bank & Trust - Iron Mo, out of Iron Mountain, Michigan. The loan was granted and they received $150,000 to help grow their Florence, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
FLORENCE, WI 54121

SBA Loan Lender

1ST NATIONAL BANK & TRUST - IRON MO
233 S STEPHENSON AVE
IRON MOUNTAIN, MI 49801

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a 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

2411 - Logging

NAICS Code

113310 - Logging

Loan Approval Date

3/19/2001

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 only one employee. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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:

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SBA Banks in Iron Mountain, Michigan

Where to Get an SBA Loan Michigan