Financing for Hog and Pig Farming

With these loans for hog and pig farming, the SBA guarantees the lender that the loan will be repaid. This hog and pig farming loan for $150,000 was given to a Minnesota entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Luverne, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Minnwest Bank Luverne, based in Luverne, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOGS
LUVERNE, MN 56156

SBA Loan Lender

MINNWEST BANK LUVERNE
116 E MAIN
LUVERNE, MN 56156

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0213 - Hogs

NAICS Code

112210 - Hog and Pig Farming

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Minnwest Bank Luverne and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Microlending as a Small Business Funding Source

Find an SBA Lender in Luverne, Minnesota

Getting an SBA Loan in Minnesota