Sioux Falls, South Dakota Bank Lends Money to Radio, Tv, And Consumer Electronics Retailing Company in Marshall, Texas

Get small business loans from a Sioux Falls, South Dakota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Wells Fargo Bank is a Sioux Falls, South Dakota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Texas company.

SBA Loan Borrower

COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING
MARSHALL, TX 75672

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

Loan Approval Date

2/2/2000

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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 Wells Fargo 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.

Related Links:

Business Cash Advances

Good Banks for Small Business in Sioux Falls, South Dakota

Browse All Business Loan Sources for South Dakota