Entrepreneur Works With Sioux Falls, South Dakota Bank to Get an SBA Loan

Get small business loans from a Sioux Falls, South Dakota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Minnwest Bank Sioux Falls is a Sioux Falls, South Dakota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a South Dakota company.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
SIOUX FALLS, SD 57106

SBA Loan Lender

MINNWEST BANK SIOUX FALLS
5001 S LOUISE AVE
SIOUX FALLS, SD 57108

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/31/2000

Loan Approval Gross Amount

$680,486

Loan Approval from the SBA

Of the total $680,486 loan amount, the SBA guaranteed $510,365.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Minnwest Bank Sioux Falls had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Minnwest Bank Sioux Falls made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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