Business Loan from First Premier Bank Given to Machine Tool Manufacturing Company

First Premier Bank has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Brandon, South Dakota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First Premier Bank, based in Sioux Falls, South Dakota.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
BRANDON, SD 57005

SBA Loan Lender

FIRST PREMIER BANK
601 S MINNESOTA AVE
SIOUX FALLS, SD 57104

This lender issued this particular business 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

333513 - Machine Tool Manufacturing

Loan Approval Date

4/9/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $70,000 loan. Remember, feel the fear, and do it anyway.

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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