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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Manufacturing Loan | ||||
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Advice for Businesses On Getting a Loan
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Raising Money for ManufacturingLooking for bank loans for manufacturing? Try the SBA. This $80,000 manufacturing loan was issued by a South Dakota bank. This small firm knew how to go about getting a business bank loan. Based in Margate City, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Wells Fargo Bank, based in Sioux Falls, South Dakota. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 339999 - Manufacturing Loan Approval Date 2/19/2008 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 $80,000 loan. Remember, anyone can do it... so why not you? 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: Who Lends Money to Small Businesses in Sioux Falls, South Dakota
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