Elgin, Iowa Bank Gives SBA Loan to Postharvest Crop Activities Company

Want to talk with an Elgin, Iowa bank about a small business loan? Here's one Iowa business loan, issued by an Elgin bank, that was approved by the SBA.

Applying for an SBA loan with Elgin State Bank worked out well for our friends at one local firm in Clermont, Iowa. The business was able to get an SBA loan for $350,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: POSTHARVEST CROP ACTIVITIES
CLERMONT, IA 52135

SBA Loan Lender

ELGIN STATE BANK
241 CENTER ST
ELGIN, IA 52141

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115114 - Postharvest Crop Activities

Loan Approval Date

9/22/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $315,000.

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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Elgin State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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