Sioux Falls, South Dakota Bank Gives SBA Loan to Gift, Novelty, And Souvenir Shops Company

A Sioux Falls, South Dakota business loan can be yours. Learn how a company got a $74,250 business loan from this South Dakota bank.

This loan to a local firm is a good example of an SBA loan. Home Federal Bank made the loan and the SBA guaranteed a portion of the loan. Many other South Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
SIOUX FALLS, SD 57104

SBA Loan Lender

HOME FEDERAL BANK
225 S MAIN AVE
SIOUX FALLS, SD 57104

This small business loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

8/9/2001

Loan Approval Gross Amount

$74,250

Loan Approval from the SBA

Of the total $74,250 loan amount, the SBA guaranteed $63,113.

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 3 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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