Borrowing Money for Cattle Feedlots

With these small business loans for cattle feedlots, the SBA guarantees the lender that the loan will be repaid. This cattle feedlots loan for $120,000 was given to a Nebraska entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Burwell, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Platte Valley St. Bank & Trust, based in Kearney, Nebraska.

SBA Loan Borrower

COMPANY TYPE: CATTLE FEEDLOTS
BURWELL, NE 68823

SBA Loan Lender

PLATTE VALLEY ST. BANK & TRUST
2223 2ND AVE
KEARNEY, NE 68847

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112112 - Cattle Feedlots

Loan Approval Date

10/16/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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