Sioux Falls, South Dakota Bank Lends Money to Iron And Steel Mills Company in Pasadena, Texas

Thinking about meeting with a Sioux Falls, South Dakota bank about an SBA loan? Here's one Texas 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 company in Pasadena, Texas. They received an SBA loan for $30,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL MILLS
PASADENA, TX 77506

SBA Loan Lender

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

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

331111 - Iron and Steel Mills

Loan Approval Date

3/13/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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Good Banks for Small Business in Sioux Falls, South Dakota

SBA Lenders in South Dakota