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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Saint Johnsbury, Business Loans > Passumpsic Savings Bank Saint Johnsbury Business Loans > Logging Loan | ||||
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Who Can Get a Business Loan in Lyndon, Vermont?
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Financing for LoggingWith these loans for logging, the SBA guarantees the lender that the loan will be repaid. This logging loan for $223,000 was given to a Vermont entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Lyndon, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Passumpsic Savings Bank, based in Saint Johnsbury, Vermont. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender PASSUMPSIC SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 113310 - Logging Loan Approval Date 8/1/2007 Loan Approval Gross Amount $223,000 Loan Approval from the SBA Of the total $223,000 loan amount, the SBA guaranteed $111,500. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Passumpsic Savings 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. Related Links: How Much Venture Capital Is There? Best Saint Johnsbury, Vermont Banks for Small Business
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