Sioux Falls, South Dakota Lender Lends Money to Plastics And Rubber Industry Machinery Manufacturing Company

Find Sioux Falls, South Dakota banks that specialize in business loans and know how to work with entrepreneurs. Minnwest Bank Sioux Falls is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Sioux Falls, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Minnwest Bank Sioux Falls. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLASTICS AND RUBBER INDUSTRY MACHINERY MANUFACTURING
SIOUX FALLS, SD 57104

SBA Loan Lender

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

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333220 - Plastics and Rubber Industry Machinery Manufacturing

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Minnwest Bank Sioux Falls and they will explain how you can get an SBA loan for your company.

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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