How to Get a Loan for Animal Food Manufacturing

With these commercial loans for animal food manufacturing, the SBA guarantees the lender that the loan will be repaid. This animal food manufacturing loan for $300,500 was given to an Iowa entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Farmers Bank - Northern Missouri, out of Mercer, Missouri. The loan was granted and they received $300,500 to help grow their Leon, Iowa business.

SBA Loan Borrower

COMPANY TYPE: ANIMAL FOOD MANUFACTURING
LEON, IA 50144

SBA Loan Lender

FARMERS BANK - NORTHERN MISSOURI
MAIN ST
MERCER, MO 64661

This bank loan 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

311119 - Animal Food Manufacturing

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$300,500

Loan Approval from the SBA

Of the total $300,500 loan amount, the SBA guaranteed $225,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers Bank - Northern Missouri had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers Bank - Northern Missouri made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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