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December 22, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Watertown, Business Loans > Great Western Bank Watertown Business Loans > Florists Loan | ||||
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Sioux Falls, South Dakota Bank Loan
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Sioux Falls, South Dakota Entrepreneur Gets a Small Business LoanSouth DakotaSBA loans are available to South Dakota entrepreneurs through the SBA. In this case, a South Dakota bank provides the loan. Getting a small business loan in Sioux Falls, South Dakota was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender GREAT WESTERN BANK This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453110 - Florists Loan Approval Date 5/1/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Find an SBA Lender in Watertown, South Dakota
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