Loans for Soybean Farming

With these loans for soybean farming, the SBA guarantees the lender that the loan will be repaid. This soybean farming loan for $65,000 was given to a Texas entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Lubbock, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Lubbock National Bank, based in Lubbock, Texas.

SBA Loan Borrower

COMPANY TYPE: SOYBEAN FARMING
LUBBOCK, TX 79413

SBA Loan Lender

LUBBOCK NATIONAL BANK
4811 50TH ST
LUBBOCK, TX 79414

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

111110 - Soybean Farming

Loan Approval Date

5/3/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Understanding Dilution

SBA Banks in Lubbock, Texas

Where to Get an SBA Loan Texas