How to Get a Loan for Specialty Food Stores

Looking for business loans for specialty food stores? Talk to a banker who works with the SBA. This $270,000 specialty food stores loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Falls, South Dakota was able to borrow $270,000 from First Dakota National Bank. The SBA made the loan possible by guaranteeing $202,500 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
SIOUX FALLS, SD 57104

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
101 N MAIN AVE, STE 101
SIOUX FALLS, SD 57104

This SBA business loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty 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.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

10/4/2005

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Dakota National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Best Banks for Small Business in Sioux Falls, South Dakota

Browse All Business Loan Sources for South Dakota

How Do We Get a Business Loan in Sioux Falls, South Dakota?

How to Get a Loan for Specialty Food Stores