Get an SBA Loan for Soil Preparation, Planting, and Cultivating

Looking for small business loans for soil preparation, planting, and cultivating? Talk to a banker who works with the SBA. This $6,300 soil preparation, planting, and cultivating loan was issued by an Iowa bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Amer Bank, out of Le Mars, Iowa. The loan was granted and they received $6,300 to help grow their Craig, Iowa business.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION SERVICES
CRAIG, IA 51017

SBA Loan Lender

AMER BANK
234 5TH AVE SW
LE MARS, IA 51031

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.

SIC Code

0711 - Soil Preparation Services

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$6,300

Loan Approval from the SBA

Of the total $6,300 loan amount, the SBA guaranteed $5,040.

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 only one employee. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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