Bank Of America SBA Loan to Forest Nurseries And Gathering Of Forest Products Company
Looking to get a Washington SBA loan? Here's one Washington business loan that was approved by the SBA.
This small business needed an SBA business loan in Sedro Woolley, Washington back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Washington small business loan.
SBA Loan Borrower
COMPANY TYPE: FOREST NURSERIES AND GATHERING OF FOREST PRODUCTS
SEDRO WOOLLEY, WA 98284
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0831 - Forest Nurseries and Gathering of Forest Products
Loan Approval Date
2/4/2000
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $80,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Obtaining Funding - Friends and Family
Find an SBA Lender in Charlotte, North Carolina
SBA Lenders in North Carolina