Loans for Sawmill and Woodworking Machinery Manufacturing

Looking for loans for sawmill and woodworking machinery manufacturing? The SBA may be the answer. This $75,000 sawmill and woodworking machinery manufacturing loan was issued by a Pennsylvania bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pennstar Bank, A Division Of, out of Scranton, Pennsylvania. The loan was granted and they received $75,000 to help grow their New Milford, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: WOODWORKING MACHINERY
NEW MILFORD, PA 18465

SBA Loan Lender

PENNSTAR BANK, A DIVISION OF
409 LACKAWANNA AVE, STE 101
SCRANTON, PA 18503

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.

SIC Code

3553 - Woodworking Machinery

NAICS Code

333210 - Sawmill and Woodworking Machinery Manufacturing

Loan Approval Date

5/11/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you need money to start business in New Milford PA, you ought to talk with a local New Milford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Milford businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pennstar Bank, A Division Of and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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