Business Loans for Soil Preparation, Planting, and Cultivating

Looking for business loans for soil preparation, planting, and cultivating? An SBA loan may be just what you've been looking for. This $125,000 soil preparation, planting, and cultivating loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Perham, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Farmers & Merchants Natl, based in Le Sueur, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CROP PLANTING, CULTIVATING, AND PROTECTING
PERHAM, MN 56573

SBA Loan Lender

FIRST FARMERS & MERCHANTS NATL
112 S MAIN ST
LE SUEUR, MN 56058

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0721 - Crop Planting, Cultivating, and Protecting

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

1/14/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Perham or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Small Business Banks in Le Sueur, Minnesota

Getting an SBA Loan in Minnesota