Truck Trailer Manufacturing Business Loans

Looking for business loans for truck trailer manufacturing? Talk to a banker who works with the SBA. This $70,000 truck trailer manufacturing loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huron, South Dakota was able to borrow $70,000 from Dakotaland Fcu. The SBA made the loan possible by guaranteeing $59,500 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCK TRAILER MANUFACTURING
HURON, SD 57350

SBA Loan Lender

DAKOTALAND FCU
1371 DAKOTA AVE SOUTH
HURON, SD 57350

This lender issued this particular bank 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

336212 - Truck Trailer Manufacturing

Loan Approval Date

2/17/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Dakotaland Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

SBA Banks in Huron, South Dakota

SBA Lenders in South Dakota