South Dakota Entrepreneur Secures Financing to Buy Liberty Tax Service Franchise

Need money to buy a Liberty Tax Service franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Sioux Falls, South Dakota needed money to invest in a Liberty Tax Service franchise back in 2008. Banco Popular North America issued an SBA franchise loan. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

LIBERTY TAX SERVICE #4946
SIOUX FALLS, SD 57104

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$144,500

Loan Approval from the SBA

Of the total $144,500 loan amount, the SBA guaranteed $108,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 8 new jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Sioux Falls SD, you ought to talk with a local Sioux Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sioux Falls businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $144,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Liberty Tax Service

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Small Bank Loans in New York City, New York

New York SBA Banks