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May 18, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rushville, Business Loans > Security First Bank Rushville Business Loans > Fuel Oil Dealers Loan | ||||
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Raising Money in Pine Ridge, South Dakota With SBA Loans
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Raising Money for Petroleum Bulk Stations and TerminalsWith these business loans for petroleum bulk stations and terminals, the SBA guarantees the lender that the loan will be repaid. This petroleum bulk stations and terminals loan for $130,000 was given to a South Dakota entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pine Ridge, South Dakota was able to borrow $130,000 from Security First Bank. The SBA made the loan possible by guaranteeing $97,500 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FUEL OIL DEALERS SBA Loan Lender SECURITY FIRST BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5983 - Fuel Oil Dealers NAICS Code 422710 - Petroleum Bulk Stations and Terminals Loan Approval Date 12/20/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. 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 6 employees. The loan application did not indicate that the small business promised to use the funding to add 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Security First Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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:
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