Commercial Loans for Logging

With these commercial loans for logging, the SBA guarantees the lender that the loan will be repaid. This logging loan for $2,000,000 was given to an Alaska entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Ketchikan, Alaska, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Wells Fargo Bank, based in Anchorage, Alaska.

SBA Loan Borrower

COMPANY TYPE: LOGGING
KETCHIKAN, AK 99901

SBA Loan Lender

WELLS FARGO BANK
301 W NORTHERN LIGHTS BLVD, S
ANCHORAGE, AK 99503

When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2411 - Logging

NAICS Code

113310 - Logging

Loan Approval Date

1/12/2001

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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