Getting an SBA Loan for Cattle Feedlots

Looking for SBA loans for cattle feedlots? The SBA may be the answer. This $150,000 cattle feedlots loan was issued by an Iowa bank.

This business knew how to go about getting a business bank loan. Based in Fairbank, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Fidelity Bank & Trust, based in Oelwein, Iowa.

SBA Loan Borrower

COMPANY TYPE: CATTLE FEEDLOTS
FAIRBANK, IA 50674

SBA Loan Lender

FIDELITY BANK & TRUST
1 W CHARLES
OELWEIN, IA 50662

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112112 - Cattle Feedlots

Loan Approval Date

2/5/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you are wondering how to raise money for a business in Fairbank IA, you ought to talk with a local Fairbank SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fairbank businesses.

We can help you find the best banks for small businesses in Fairbank or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

SBA 7A Banks for Oelwein, Iowa Loans

Iowa SBA 7A Lenders