Hardwood Veneer and Plywood Manufacturing Small Business Loans

With these small 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 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hagerstown, Maryland was able to borrow $300,000 from Hagerstown Trust Company. The SBA made the loan possible by guaranteeing $270,000 of this Maryland small business loan.

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

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

9/7/2004

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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hagerstown Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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