Raising Money for Sawmills

With these business loans for sawmills, the SBA guarantees the lender that the loan will be repaid. This sawmills loan for $250,000 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berlin, Pennsylvania was able to borrow $250,000 from Usbancorp Tr & Finan Services. The SBA made the loan possible by guaranteeing $187,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL
BERLIN, PA 15530

SBA Loan Lender

USBANCORP TR & FINAN SERVICES
216 FRANKLIN ST
JOHNSTOWN, PA 15901

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2421 - Sawmills and Planing Mills, General

NAICS Code

321113 - Sawmills

Loan Approval Date

7/30/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 20 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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

Advice on Getting a Small Business Loan

SBA 7A Lenders in Johnstown, Pennsylvania

SBA Lenders in Pennsylvania