Where to Get Capital for Logging

Looking for small business loans for logging? Try the SBA. This $115,000 logging loan was issued by a Michigan bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Mbank, out of Manistique, Michigan. The loan was granted and they received $115,000 to help grow their L'Anse, Michigan business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
L'ANSE, MI 49954

SBA Loan Lender

MBANK
130 S CEDAR ST
MANISTIQUE, MI 49854

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

3/6/2003

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mbank and they will explain how you can get an SBA loan for your company.

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:

Debt Financing

Good Banks for Small Business in Manistique, Michigan

SBA Lenders in Michigan