Borrowing Money for Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
Looking for bank loans for medical, dental, and hospital equipment and supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $125,700 medical, dental, and hospital equipment and supplies merchant wholesalers loan was issued by a South Dakota bank.
Getting a small business loan in Sioux Falls, South Dakota was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Minnwest Bank Sioux Falls, operating out of Sioux Falls, South Dakota. Here are the details on this South Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
SIOUX FALLS, SD 57106
SBA Loan Lender
MINNWEST BANK SIOUX FALLS
5001 S LOUISE AVE
SIOUX FALLS, SD 57108
This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
Loan Approval Date
8/7/2006
Loan Approval Gross Amount
$125,700
Loan Approval from the SBA
Of the total $125,700 loan amount, the SBA guaranteed $106,845.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
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.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Minnwest Bank Sioux Falls and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Getting a Small Business Loan
SBA 7A Banks for Sioux Falls, South Dakota Loans
South Dakota SBA Banks