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May 19, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Holstein, Business Loans > Heritage Bank Holstein Business Loans > Hog And Pig Farming Loan | ||||
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Iowa Small Business Funding
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Get an SBA Loan for Hog and Pig FarmingLooking for loans for hog and pig farming? Try the SBA. This $800,000 hog and pig farming loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Holstein, Iowa was able to borrow $800,000 from Heritage Bank. The SBA made the loan possible by guaranteeing $600,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: HOG AND PIG FARMING SBA Loan Lender HERITAGE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 112210 - Hog and Pig Farming Loan Approval Date 6/23/2006 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $600,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Holstein, Iowa
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