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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Small Bank Loans in Sioux Falls, South Dakota
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