How to Get a Loan for Hardwood Veneer and Plywood Manufacturing

With these business loans for hardwood veneer and plywood manufacturing, the SBA guarantees the lender that the loan will be repaid. This hardwood veneer and plywood manufacturing loan for $150,000 was given to an Indiana entrepreneur in 2005.

Getting a small business loan in Muncie, Indiana was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Ossian State Bank, operating out of Ossian, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWOOD VENEER AND PLYWOOD MANUFACTURING
MUNCIE, IN 47305

SBA Loan Lender

OSSIAN STATE BANK
102 N JEFFERSON ST
OSSIAN, IN 46777

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321211 - Hardwood Veneer and Plywood Manufacturing

Loan Approval Date

6/24/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 30 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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