Food Manufacturing Small Business Loans

Looking for small business loans for food manufacturing? The SBA may be the answer. This $150,000 food manufacturing loan was issued by an Iowa bank.

This small firm knew how to go about getting a business bank loan. Based in Albia, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Iowa State Bank, based in Albia, Iowa.

SBA Loan Borrower

COMPANY TYPE: GROCERIES AND RELATED PRODUCTS
ALBIA, IA 52531

SBA Loan Lender

FIRST IOWA STATE BANK
19 BENTON AVE EAST
ALBIA, IA 52531

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves 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

5149 - Groceries and Related Products

NAICS Code

311999 - Food Manufacturing

Loan Approval Date

11/21/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Iowa State Bank and they will explain how you can get an SBA loan for your company.

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

Small Bank Loans in Albia, Iowa

SBA Lenders in Iowa