Sioux Falls, South Dakota Business Gets SBA-Guaranteed Funding from Wells Fargo Bank

An SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sioux Falls, South Dakota business owner got a $50,000 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Wells Fargo Bank, out of Minneapolis, Minnesota. The loan was granted and they received $50,000 to help grow their Sioux Falls, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: ART DEALERS
SIOUX FALLS, SD 57105

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

453920 - Art Dealers

Loan Approval Date

7/27/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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