How to Get a Loan for Sawmills

Looking for commercial loans for sawmills? The SBA may be the answer. This $1,000,000 sawmills loan was issued by an Alabama bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First United Security Bank, out of Thomasville, Alabama. The loan was granted and they received $1,000,000 to help grow their Thomasville, Alabama business.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS
THOMASVILLE, AL 36784

SBA Loan Lender

FIRST UNITED SECURITY BANK
131 W FRONT ST
THOMASVILLE, AL 36784

This lender issued this bank loan under the SBA's 7A loan, 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.

NAICS Code

321113 - Sawmills

Loan Approval Date

3/20/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

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 65 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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.

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.

Related Links:

Business Incubators

SBA 7A Lenders in Thomasville, Alabama

Where to Get an SBA Loan Alabama