Loans for Farm Supplies Wholesalers

With these loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $200,000 was given to an Iowa entrepreneur in 2001.

Getting a small business loan in Akron, Iowa was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Iowa-Nebraska State Bank, operating out of South Sioux City, Nebraska. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS
AKRON, IA 51001

SBA Loan Lender

IOWA-NEBRASKA STATE BANK
2021 DAKOTA AVE
SOUTH SIOUX CITY, NE 68776

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5169 - Chemical and Allied Products

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

5/15/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 11 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Iowa-Nebraska State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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