How to Get a Loan for Logging

Looking for business loans for logging? Talk to a banker who works with the SBA. This $131,000 logging loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in Phillips, Maine, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Franklin Savings Bank, based in Farmington, Maine.

SBA Loan Borrower

COMPANY TYPE: LOGGING
PHILLIPS, ME 04966

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

SIC Code

2411 - Logging

NAICS Code

113310 - Logging

Loan Approval Date

10/19/2005

Loan Approval Gross Amount

$131,000

Loan Approval from the SBA

Of the total $131,000 loan amount, the SBA guaranteed $111,350.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Phillips ME, you ought to talk with a local Phillips SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Phillips businesses.

This SBA loan was for $131,000. How would you spend $131,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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