Where to Get Capital for Animal Production

With these small business loans for animal production, the SBA guarantees the lender that the loan will be repaid. This animal production loan for $43,000 was given to an Iowa entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with State Bank Of Alcester, out of Alcester, South Dakota. The loan was granted and they received $43,000 to help grow their Hawarden, Iowa business.

SBA Loan Borrower

COMPANY TYPE: ANIMAL PRODUCTION
HAWARDEN, IA 51023

SBA Loan Lender

STATE BANK OF ALCESTER
190 IOWA ST
ALCESTER, SD 57001

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112990 - Animal Production

Loan Approval Date

8/12/2005

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

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 only one employee. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

Related Links:

Obtaining Funding - Friends and Family

SBA Banks in Alcester, South Dakota

SBA Lenders in South Dakota