Borrowing Money for Timber Tract Operations

With these loans for timber tract operations, the SBA guarantees the lender that the loan will be repaid. This timber tract operations loan for $50,000 was given to a Washington entrepreneur in 2004.

Getting a small business loan in Sedro Woolley (corporate Name, Washington was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Whidbey Island Bank, operating out of Oak Harbor, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: TIMBER TRACT OPERATIONS
SEDRO WOOLLEY (CORPORATE NAME, WA 98284

SBA Loan Lender

WHIDBEY ISLAND BANK
450 SW BAYSHORE DR
OAK HARBOR, WA 98277

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

113110 - Timber Tract Operations

Loan Approval Date

9/22/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Whidbey Island Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Whidbey Island Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

How to Raise Money

Where to Get an SBA Loan in Oak Harbor, Washington

SBA Lenders in Washington