Hardwood Veneer and Plywood Manufacturing Business Loans

With these business loans for hardwood veneer and plywood manufacturing, the SBA guarantees the lender that the loan will be repaid. This hardwood veneer and plywood manufacturing loan for $300,000 was given to a Maryland entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Hagerstown, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Hagerstown Trust Company, based in Hagerstown, Maryland.

SBA Loan Borrower

COMPANY TYPE: HARDWOOD VENEER AND PLYWOOD
HAGERSTOWN, MD 21742

SBA Loan Lender

HAGERSTOWN TRUST COMPANY
83 W WASHINGTON ST
HAGERSTOWN, MD 21740

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2435 - Hardwood Veneer and Plywood

NAICS Code

321211 - Hardwood Veneer and Plywood Manufacturing

Loan Approval Date

1/4/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Small Business Credit Cards

SBA Banks in Hagerstown, Maryland

Maryland SBA 7A Lenders