Raising Money for Roasted Nuts and Peanut Butter Manufacturing

Looking for bank loans for roasted nuts and peanut butter manufacturing? The SBA may be the answer. This $325,000 roasted nuts and peanut butter manufacturing loan was issued by a South Dakota bank.

This small firm knew how to go about getting a business bank loan. Based in Spearfish, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Great Western Bank, based in Spearfish, South Dakota.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
SPEARFISH, SD 57783

SBA Loan Lender

GREAT WESTERN BANK
526 MAIN ST
SPEARFISH, SD 57783

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2099 - Food Preparations

NAICS Code

311911 - Roasted Nuts and Peanut Butter Manufacturing

Loan Approval Date

3/2/2004

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Great Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Great Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

Best Banks for Small Business in Spearfish, South Dakota

Where to Get an SBA Loan South Dakota