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December 22, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > Minnwest Bank Sioux Falls Sioux Falls Business Loans > Chemical Product And Preparation Manufacturing Loan | ||||
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Sioux Falls Small Business Loans from Minnwest Bank Sioux Falls
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SBA Loan from Minnwest Bank Sioux Falls Helps Chemical Product And Preparation Manufacturing CompanyMinnwest Bank Sioux Falls is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Dakota entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Sioux Falls, South Dakota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Minnwest Bank Sioux Falls, based in Sioux Falls, South Dakota. SBA Loan Borrower COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING SBA Loan Lender MINNWEST BANK SIOUX FALLS This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325998 - Chemical Product and Preparation Manufacturing Loan Approval Date 5/7/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Minnwest Bank Sioux Falls and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source Find an SBA Lender in Sioux Falls, South Dakota
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