Getting an SBA Loan for Farm and Garden Machinery and Equipment Wholesalers

With these business loans for farm and garden machinery and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm and garden machinery and equipment wholesalers loan for $500,000 was given to an Iowa entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Peoples Bank, out of Rock Valley, Iowa. The loan was granted and they received $500,000 to help grow their Rock Valley, Iowa business.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT
ROCK VALLEY, IA 51247

SBA Loan Lender

PEOPLES BANK
1230 VALLEY DR
ROCK VALLEY, IA 51247

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5083 - Farm and Garden Machinery and Equipment

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

1/25/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 13 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

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Find an SBA Lender in Rock Valley, Iowa

SBA Lenders in Iowa