Get an SBA Loan for Logging

Looking for small business loans for logging? Try the SBA. This $69,800 logging loan was issued by a Vermont bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Passumpsic Savings Bank, out of Saint Johnsbury, Vermont. The loan was granted and they received $69,800 to help grow their Lyndon, Vermont business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
LYNDON, VT 05851

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

6/19/2002

Loan Approval Gross Amount

$69,800

Loan Approval from the SBA

Of the total $69,800 loan amount, the SBA guaranteed $34,900.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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

SBA Participating Banks in Saint Johnsbury, Vermont

SBA Vermont Lenders