Sioux Falls, South Dakota Bank Gives SBA Loan to Motion Picture And Video Production Company

A Sioux Falls, South Dakota small business loan can be yours. Learn how a company got a $45,000 business loan from this South Dakota bank.

This loan to an entrepreneur is a good example of an SBA loan. Wells Fargo Bank made the loan and the SBA guaranteed a portion of the loan. Many other Oregon entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION
PORTLAND, OR 97239

SBA Loan Lender

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

The lender provided this bank 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

512110 - Motion Picture and Video Production

Loan Approval Date

5/30/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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