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December 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fort Dodge, Business Loans > First American Bank Fort Dodge Business Loans > Hog And Pig Farming Loan | ||||
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Raising Money in Paton, Iowa With SBA Loans
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Iowa SBA Loan Issued to Hog And Pig Farming CompanyWant an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Iowa bank that works with the SBA to help small business owners. Getting a small business loan in Paton, Iowa was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First American Bank. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: HOG AND PIG FARMING SBA Loan Lender FIRST AMERICAN BANK This was a Low Documentation SBA loan. The SBA created this program to minimize 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 112210 - Hog and Pig Farming Loan Approval Date 1/19/2005 Loan Approval Gross Amount $68,000 Loan Approval from the SBA Of the total $68,000 loan amount, the SBA guaranteed $57,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First American Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Fort Dodge, Iowa Banks for Small Business
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