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May 16, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Pierre, Business Loans > First National Bank Pierre Business Loans > Lumber And Other Building Materials Dealer Loan | ||||
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Pierre SBA Loan from First National Bank
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First National Bank SBA Loan to Lumber And Other Building Materials Dealer CompanyAn SBA loan from First National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pierre, South Dakota business owner got a $375,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pierre, South Dakota was able to borrow $375,000 from First National Bank. The SBA made the loan possible by guaranteeing $281,250 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER SBA Loan Lender FIRST NATIONAL BANK This SBA loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer NAICS Code 444190 - Building Material Dealers Loan Approval Date 2/5/2004 Loan Approval Gross Amount $375,000 Loan Approval from the SBA Of the total $375,000 loan amount, the SBA guaranteed $281,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $375,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Family and Friend Investors - Your First Financiers Best Banks for Small Business in Pierre, South Dakota Find an SBA Lender in South Dakota
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