Getting an SBA Loan for Poultry Processing

Looking for SBA loans for poultry processing? The SBA may be the answer. This $60,000 poultry processing loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with American State Bank, out of Sioux Center, Iowa. The loan was granted and they received $60,000 to help grow their Hespers, Iowa business.

SBA Loan Borrower

COMPANY TYPE: POULTRY PROCESSING
HESPERS, IA 51238

SBA Loan Lender

AMERICAN STATE BANK
525 N MAIN AVE
SIOUX CENTER, IA 51250

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

311615 - Poultry Processing

Loan Approval Date

2/5/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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Small Bank Loans in Sioux Center, Iowa

Iowa SBA 7A Lenders