Sioux Falls, South Dakota Bank Gives SBA Loan to Optical Instrument And Lens Manufacturing Company

Get to know Sioux Falls, South Dakota banks that specialize in small business loans and know how to work with entrepreneurs. Wells Fargo Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Issaqhah, Washington starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Wells Fargo Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OPTICAL INSTRUMENT AND LENS MANUFACTURING
ISSAQHAH, WA 98027

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333314 - Optical Instrument and Lens Manufacturing

Loan Approval Date

9/26/2007

Loan Approval Gross Amount

$975,000

Loan Approval from the SBA

Of the total $975,000 loan amount, the SBA guaranteed $731,250.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Issaqhah 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:

Borrowing Money from Friends and Family

Where to Get an SBA Loan in Sioux Falls, South Dakota

SBA Lenders in South Dakota