Sioux Falls, South Dakota Business Gets SBA-Guaranteed Funding from First Bank & Trust

First Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Dakota entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Sioux Falls, South Dakota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was First Bank & Trust, based in Sioux Falls, South Dakota.

SBA Loan Borrower

COMPANY TYPE: MEAT MARKETS
SIOUX FALLS, SD 57108

SBA Loan Lender

FIRST BANK & TRUST
133 S 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 SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445210 - Meat Markets

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 5 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Sioux Falls or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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