Getting an SBA Loan for Logging

With these commercial loans for logging, the SBA guarantees the lender that the loan will be repaid. This logging loan for $140,000 was given to a New York entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Nbt Bank, National Association, out of Oneonta, New York. The loan was granted and they received $140,000 to help grow their Oneonta, New York business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
ONEONTA, NY 13820

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
733 STATE HWY 28
ONEONTA, NY 13820

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2411 - Logging

NAICS Code

113310 - Logging

Loan Approval Date

6/8/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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