Business Support Services Business Loans

With these business loans for business support services, the SBA guarantees the lender that the loan will be repaid. This business support services loan for $136,000 was given to a South Dakota entrepreneur in 2000.

Getting a small business loan in Brandon, South Dakota was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Midwest Bank, operating out of Sioux Falls, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
BRANDON, SD 57005

SBA Loan Lender

FIRST MIDWEST BANK
3310 W 49TH ST
SIOUX FALLS, SD 57106

This lender issued this particular SBA 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.

SIC Code

7389 - Business Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$136,000

Loan Approval from the SBA

Of the total $136,000 loan amount, the SBA guaranteed $102,000.

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 loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 First Midwest 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.

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