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December 22, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > Minnwest Bank Sioux Falls Sioux Falls Business Loans > Child Day Care Services Loan | ||||
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SBA Lenders for Hartford Small Business Owners
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Commercial Loans for Child Day Care ServicesLooking for commercial loans for child day care services? Talk to a banker who works with the SBA. This $44,800 child day care services loan was issued by a South Dakota bank. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Minnwest Bank Sioux Falls, out of Sioux Falls, South Dakota. The loan was granted and they received $44,800 to help grow their Hartford, South Dakota business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender MINNWEST BANK SIOUX FALLS This lender issued this particular loan for a small business 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 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 2/25/2000 Loan Approval Gross Amount $44,800 Loan Approval from the SBA Of the total $44,800 loan amount, the SBA guaranteed $35,840. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Minnwest Bank Sioux Falls had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Minnwest Bank Sioux Falls made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Lenders in Sioux Falls, South Dakota
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