Borrowing Money for Farm Supplies Wholesalers

With these loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $268,500 was given to an Iowa entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Percival, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Great Western Bank, based in Hamburg, Iowa.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
PERCIVAL, IA 51643

SBA Loan Lender

GREAT WESTERN BANK
1020 MAIN ST
HAMBURG, IA 51640

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

10/6/2000

Loan Approval Gross Amount

$268,500

Loan Approval from the SBA

Of the total $268,500 loan amount, the SBA guaranteed $201,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Great Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

A Company That Helps Entrepreneurs

Small Business Banks in Hamburg, Iowa

SBA Participating Banks in Iowa