Sioux Falls, South Dakota Entrepreneur Gets a Bank Loan

Would a South Dakota SBA loan help your business get to the next level? If so, you may want to talk with this South Dakota bank, which offers SBA loans to South Dakota entrepreneurs.

This small business, based in Sioux Falls, South Dakota, 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 First Premier Bank. We've got the inside scoop on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOWERS, NURSERY STOCK, AND FLORISTS SUPPLIES
SIOUX FALLS, SD 57104

SBA Loan Lender

FIRST PREMIER BANK
601 S MINNESOTA AVE
SIOUX FALLS, SD 57104

This loan for a small business was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5193 - Flowers, Nursery Stock, and Florists Supplies

NAICS Code

422930 - Flower, Nursery Stock, and Florists' Supplies Wholesalers

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$504,200

Loan Approval from the SBA

Of the total $504,200 loan amount, the SBA guaranteed $378,150.

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 45 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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