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May 5, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > Minnwest Bank Sioux Falls Sioux Falls Business Loans > Physical Fitness Facilities Loan | ||||
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Salem, South Dakota Bank Loan
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Getting an SBA Loan for Fitness and Recreational Sports CentersWith these business loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $158,500 was given to a South Dakota entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salem, South Dakota was able to borrow $158,500 from Minnwest Bank Sioux Falls. The SBA made the loan possible by guaranteeing $118,875 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL FITNESS FACILITIES SBA Loan Lender MINNWEST BANK SIOUX FALLS The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/9/2004 Loan Approval Gross Amount $158,500 Loan Approval from the SBA Of the total $158,500 loan amount, the SBA guaranteed $118,875. 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 12 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Minnwest Bank Sioux Falls had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Minnwest Bank Sioux Falls made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Approved Banks in Sioux Falls, South Dakota
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