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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Rock Valley, Business Loans > Peoples Bank Rock Valley Business Loans > Postharvest Crop Activities Loan | ||||
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SBA 7A Banks in Minnesota
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Small Business Loans for Postharvest Crop ActivitiesLooking for small business loans for postharvest crop activities? The SBA may be the answer. This $50,000 postharvest crop activities loan was issued by an Iowa bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Peoples Bank, out of Rock Valley, Iowa. The loan was granted and they received $50,000 to help grow their Worthington, Minnesota business. SBA Loan Borrower COMPANY TYPE: POSTHARVEST CROP ACTIVITIES SBA Loan Lender PEOPLES BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 115114 - Postharvest Crop Activities Loan Approval Date 3/20/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Best Banks in Rock Valley, Iowa
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