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April 27, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > Great Western Bank Sioux Falls Business Loans > Plastics And Rubber Industry Machinery Manufacturing Loan | ||||
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Raising Money in Sioux Falls, South Dakota With SBA Loans
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Raising Money for Plastics and Rubber Industry Machinery ManufacturingLooking for business loans for plastics and rubber industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $100,000 plastics and rubber industry machinery manufacturing loan was issued by a South Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Falls, South Dakota was able to borrow $100,000 from Great Western Bank. The SBA made the loan possible by guaranteeing $85,000 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS AND RUBBER INDUSTRY MACHINERY MANUFACTURING SBA Loan Lender GREAT WESTERN BANK 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 333220 - Plastics and Rubber Industry Machinery Manufacturing Loan Approval Date 7/26/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Great Western Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Determining Proper Capital Structure for a Business SBA Participating Banks in Sioux Falls, South Dakota Where to Get an SBA Loan South Dakota
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