Sheridan, Wyoming Entrepreneur Gets an SBA Loan

SBA loans in Wyoming are are few and far betweeen these days. We take a look at one Wyoming SBA loan, provided by a Wyoming bank, that was approved by the SBA.

This business, based in Sheridan, Wyoming, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Sheridan State Bank. We've got the inside scoop on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL
SHERIDAN, WY 82801

SBA Loan Lender

SHERIDAN STATE BANK
424 N MAIN ST
SHERIDAN, WY 82801

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532220 - Formal Wear and Costume Rental

Loan Approval Date

3/8/2005

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

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 2 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Sheridan WY, you ought to talk with a local Sheridan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sheridan businesses.

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 Sheridan State 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:

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SBA Approved Banks in Sheridan, Wyoming

Getting a Business Loan in Wyoming