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December 20, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > First Premier Bank Sioux Falls Business Loans > Mobile Food Services Loan | ||||
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Business Loans for Tea Entrepreneurs
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Where to Get Capital for Mobile Food ServicesWith these SBA loans for mobile food services, the SBA guarantees the lender that the loan will be repaid. This mobile food services loan for $56,000 was given to a South Dakota entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Tea, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Premier Bank, based in Sioux Falls, South Dakota. SBA Loan Borrower COMPANY TYPE: MOBILE FOOD SERVICES SBA Loan Lender FIRST PREMIER BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722330 - Mobile Food Services Loan Approval Date 3/20/2003 Loan Approval Gross Amount $56,000 Loan Approval from the SBA Of the total $56,000 loan amount, the SBA guaranteed $47,600. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding From a Venture Capitalist Banks in Sioux Falls, South Dakota
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