Getting an SBA Loan for Timber Tract Operations

Looking for commercial loans for timber tract operations? Try the SBA. This $50,000 timber tract operations loan was issued by a New York bank.

Getting a small business loan in Trumansburg, New York was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Community Bank, operating out of Ovid, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: TIMBER TRACTS
TRUMANSBURG, NY 14886

SBA Loan Lender

COMMUNITY BANK
7193 MAIN ST
OVID, NY 14521

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0811 - Timber Tracts

NAICS Code

113110 - Timber Tract Operations

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $37,500.

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 only one employee. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community 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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Ovid, New York

Getting a Business Loan in New York