Industrial Machinery and Equipment Merchant Wholesalers Commercial Loans

With these commercial loans for industrial machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment merchant wholesalers loan for $150,000 was given to a South Dakota entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Sioux Falls, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was U.S. Bank National Association, based in Sioux Falls, South Dakota.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
SIOUX FALLS, SD 57108

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
141 N MAIN AVE
SIOUX FALLS, SD 57104

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5084 - Industrial Machinery and Equipment

NAICS Code

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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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