Business Loan from Dnb National Bank Given to Commercial And Industrial Machinery And Equipment Company

Dnb National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Dakota entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Gary, South Dakota was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Dnb National Bank, operating out of Clear Lake, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
GARY, SD 57237

SBA Loan Lender

DNB NATIONAL BANK
305 4TH ST WEST
CLEAR LAKE, SD 57226

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 American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

4/3/2006

Loan Approval Gross Amount

$585,000

Loan Approval from the SBA

Of the total $585,000 loan amount, the SBA guaranteed $438,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 69 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Gary SD, you ought to talk with a local Gary SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gary businesses.

We can help you find the best banks for small businesses in Gary or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Good Banks for Small Business in Clear Lake, South Dakota

Getting a Business Loan in South Dakota