Where to Get Capital for Logging

Looking for SBA loans for logging? Try the SBA. This $50,000 logging loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Comm. National Bank - L'Anse, out of Lanse, Michigan. The loan was granted and they received $50,000 to help grow their Hancock, Michigan business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
HANCOCK, MI 49930

SBA Loan Lender

COMM. NATIONAL BANK - L'ANSE
1 E BROAD ST
LANSE, MI 49946

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

113310 - Logging

Loan Approval Date

6/8/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in 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 planned to use the loan proceeds to add employees or retain any existing employees.

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

If you want money for new small business in Hancock MI, you ought to talk with a local Hancock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hancock businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Comm. National Bank - L'Anse so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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