Sioux Falls, South Dakota Entrepreneur Gets a Bank Loan

Want a South Dakota small business loan? This South Dakota entrepreneur got a small business loan, provided by an Ohio bank that works with the SBA to help small business owners.

Getting a small business loan in Sioux Falls, South Dakota was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
SIOUX FALLS, SD 57108

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

12/17/2007

Loan Approval Gross Amount

$56,600

Loan Approval from the SBA

Of the total $56,600 loan amount, the SBA guaranteed $48,110.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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.

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 U.S. Bank National Association 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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