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January 29, 2023  
 
 
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Small Business Banks for Sioux Falls, South Dakota Entrepreneurs

 

 
Loan Census SBA Loan Info

How to Get a Loan for Paint and Coating Manufacturing

Looking for commercial loans for paint and coating manufacturing? An SBA loan may be just what you've been looking for. This $37,000 paint and coating manufacturing loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Falls, South Dakota was able to borrow $37,000 from Dacotah Bank. The SBA made the loan possible by guaranteeing $31,450 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINT AND COATING MANUFACTURING
SIOUX FALLS, SD 57106

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

8/24/2005

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels 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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Dacotah Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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