How to Get a Loan for Cut Stock, Resawing Lumber, and Planning

With these commercial loans for cut stock, resawing lumber, and planning, the SBA guarantees the lender that the loan will be repaid. This cut stock, resawing lumber, and planning loan for $600,000 was given to an Indiana entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $600,000 from Regions Bank. The SBA made the loan possible by guaranteeing $450,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL
INDIANAPOLIS, IN 46218

SBA Loan Lender

REGIONS BANK
ONE INDIANA SQ
INDIANAPOLIS, IN 46204

This small business 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

2421 - Sawmills and Planing Mills, General

NAICS Code

321912 - Cut Stock, Resawing Lumber, and Planning

Loan Approval Date

6/8/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 30 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Indianapolis, Indiana

Indiana SBA Banks