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May 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Negaunee, Business Loans > Range Bank Negaunee Business Loans > Logging Loan | ||||
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Business Loans for Baraga Small Business Owners
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Financing for LoggingLooking for loans for logging? The SBA may be the answer. This $25,000 logging loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baraga, Michigan was able to borrow $25,000 from Range Bank. The SBA made the loan possible by guaranteeing $20,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender RANGE BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2411 - Logging NAICS Code 113310 - Logging Loan Approval Date 5/9/2000 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $20,000. 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 SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? 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. Related Links: Accountant's Role in Securing Financing Where to Get an SBA Loan in Negaunee, Michigan
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