Wyhe's Choice, Inc.
Wyhe's Choice, Inc. is a frozen specialty food manufacturer located in Lester, Iowa. The company financed real estate or equipment through an SBA 504 loan of $1.3 million, approved on March 15, 2024, with Peoples Bank as the lender and Siouxland Economic Development Corporation as the certified development company.
SBA 504 loan, approved Mar 15, 2024
$1,300,000 SBA portionCDC: Siouxland Economic Development Corporation20 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,300,000
- Bank portion
- $1,587,500
- Estimated project size
- $3,208,333 (estimated)
- Estimated owner equity
- $320,833 (estimated, about 10% of the project)
- Bank lender
- Peoples Bank, Rock Valley, IA
- Processing method
- 504 Basic: standard SBA processing through a CDC
- Term
- 20 years (240 months)
- Estimated maturity
- March 15, 2044 (estimated, approval date plus term)
- First disbursement
- Jun 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 311412, Frozen Specialty Food Manufacturing
- Project location
- Lyon County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-4
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Frozen Specialty Food Manufacturing: $2,894,667.
- Average expansion loan in Iowa: $1,994,971.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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