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May 2, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > 1st National Bank In Sioux Falls Sioux Falls Business Loans > Fabricated Wire Products Loan | ||||
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South Dakota Bank SBA Loans
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1st National Bank In Sioux Falls SBA Loan to Fabricated Wire Products CompanyWant a South Dakota SBA loan? Here's one South Dakota business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Falls, South Dakota was able to borrow $222,000 from 1st National Bank In Sioux Falls. The SBA made the loan possible by guaranteeing $166,500 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED WIRE PRODUCTS SBA Loan Lender 1ST NATIONAL BANK IN SIOUX FALLS This loan for a small business was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3496 - Fabricated Wire Products Loan Approval Date 6/2/2000 Loan Approval Gross Amount $222,000 Loan Approval from the SBA Of the total $222,000 loan amount, the SBA guaranteed $166,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 1st National Bank In Sioux Falls 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: Find an SBA Lender in Sioux Falls, South Dakota
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