Get an SBA Loan for General Purpose Machinery Manufacturing

Looking for bank loans for general purpose machinery manufacturing? Try the SBA. This $135,000 general purpose machinery manufacturing loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mitchell, South Dakota was able to borrow $135,000 from First Dakota National Bank. The SBA made the loan possible by guaranteeing $114,750 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING
MITCHELL, SD 57301

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
500 E NORWAY
MITCHELL, SD 57301

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

6/6/2001

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Dakota National Bank and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

SBA Participating Banks in Mitchell, South Dakota

SBA Lenders in South Dakota