Raising Money for Building Material Dealers

With these business loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $210,742 was given to a South Dakota entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Stickney, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Farmers State Bank, based in Stickney, South Dakota.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
STICKNEY, SD 57375

SBA Loan Lender

FARMERS STATE BANK
221 MAIN ST
STICKNEY, SD 57375

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

8/24/2005

Loan Approval Gross Amount

$210,742

Loan Approval from the SBA

Of the total $210,742 loan amount, the SBA guaranteed $158,057.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Stickney SD, you ought to talk with a local Stickney SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Stickney businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Farmers State Bank and they will explain how you can get an SBA loan for your company.

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:

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Best Stickney, South Dakota Banks for Small Business

Getting an SBA Loan in South Dakota