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May 16, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Browns Valley, Business Loans > Union State Bank Browns Valley Business Loans > Direct Selling Establishments Loan | ||||
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Browns Valley SBA Lenders
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Entrepreneur Works With Browns Valley, Minnesota Bank to Get an SBA LoanGet to know Browns Valley, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Union State Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Sisseton, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Union State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender UNION STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5963 - Direct Selling Establishments NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 3/16/2001 Loan Approval Gross Amount $310,000 Loan Approval from the SBA Of the total $310,000 loan amount, the SBA guaranteed $232,500. 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 13 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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 Union State Bank 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: How Much Venture Capital Is There? Small Business Banks in Browns Valley, Minnesota
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