Small Business Loans for Commercial and Service Industry Machinery Manufacturing

Looking for small business loans for commercial and service industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $139,500 commercial and service industry machinery manufacturing loan was issued by a South Dakota bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Great Western Bank, out of Sioux Falls, South Dakota. The loan was granted and they received $139,500 to help grow their Sioux Falls, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
SIOUX FALLS, SD 57108

SBA Loan Lender

GREAT WESTERN BANK
100 N PHILLIPS
SIOUX FALLS, SD 57101

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

10/6/2004

Loan Approval Gross Amount

$139,500

Loan Approval from the SBA

Of the total $139,500 loan amount, the SBA guaranteed $118,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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 Great Western Bank 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:

Accountant's Role in Securing Financing

SBA Participating Banks in Sioux Falls, South Dakota

South Dakota SBA Bank Lenders