Small Business Loans for Soybean Farming

With these small business loans for soybean farming, the SBA guarantees the lender that the loan will be repaid. This soybean farming loan for $500,000 was given to an Iowa entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Lynnville, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First State Bank, based in Lynnville, Iowa.

SBA Loan Borrower

COMPANY TYPE: SOYBEAN FARMING
LYNNVILLE, IA 50153

SBA Loan Lender

FIRST STATE BANK
413 EAST ST
LYNNVILLE, IA 50153

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111110 - Soybean Farming

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $500,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 - How to Borrow Money

Best Lynnville, Iowa Banks for Small Business

SBA Lenders in Iowa