Small Business Loans for Support Activities for Animal Production

Looking for small business loans for support activities for animal production? Talk to a banker who works with the SBA. This $462,000 support activities for animal production loan was issued by a Vermont bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Lake Sunapee Bank, Fsb, out of Woodstock, Vermont. The loan was granted and they received $462,000 to help grow their Hartland, Vermont business.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ANIMAL PRODUCTION
HARTLAND, VT 05048

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
1 BOND ST
WOODSTOCK, VT 05091

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115210 - Support Activities for Animal Production

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$462,000

Loan Approval from the SBA

Of the total $462,000 loan amount, the SBA guaranteed $346,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Woodstock, Vermont

Where to Get an SBA Loan Vermont