Luverne, Minnesota Bank Gives SBA Loan to Surveying Services Company

Want to talk with a Luverne, Minnesota bank about a business loan? Here's one South Dakota business loan, issued by a Luverne bank, that was approved by the SBA.

Applying for an SBA loan with Minnwest Bank Luverne worked out well for our friends at one local company in Sioux Falls, South Dakota. The business was able to get an SBA loan for $86,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: SURVEYING SERVICES
SIOUX FALLS, SD 57105

SBA Loan Lender

MINNWEST BANK LUVERNE
116 E MAIN
LUVERNE, MN 56156

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8713 - Surveying Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

4/7/2000

Loan Approval Gross Amount

$86,000

Loan Approval from the SBA

Of the total $86,000 loan amount, the SBA guaranteed $68,800.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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