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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Insurance Agencies And Brokerages Loan | ||||
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South Dakota SBA Banks
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Sioux Falls, South Dakota Bank Gives SBA Loan to Insurance Agencies And Brokerages CompanyThinking about meeting with a Sioux Falls, South Dakota bank about a business loan? Here's one California business loan, issued by a Sioux Falls bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local business in Newport Beach, California. They got an SBA loan for $868,000. Way to go! SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender WELLS FARGO BANK This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and are well trained in SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 9/23/2003 Loan Approval Gross Amount $868,000 Loan Approval from the SBA Of the total $868,000 loan amount, the SBA guaranteed $651,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 22 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank 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: Obtaining Funding - Getting Venture Capital Best Banks for Small Business in Sioux Falls, South Dakota SBA Participating Banks in South Dakota
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