Borrowing Money for Crop Farming

Looking for bank loans for crop farming? Try the SBA. This $150,000 crop farming loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Faribault, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was 1st United Bank, based in Faribault, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CROP FARMING
FARIBAULT, MN 55021

SBA Loan Lender

1ST UNITED BANK
430 NW 4TH ST
FARIBAULT, MN 55021

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111998 - Crop Farming

Loan Approval Date

1/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Business Credit Evaluation

SBA 7A Banks for Faribault, Minnesota Loans

Getting a Business Loan in Minnesota