Borrowing Money for Water Supply and Irrigation Systems

With these loans for water supply and irrigation systems, the SBA guarantees the lender that the loan will be repaid. This water supply and irrigation systems loan for $84,000 was given to a South Dakota entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vale, South Dakota was able to borrow $84,000 from First National Bank. The SBA made the loan possible by guaranteeing $71,400 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER SUPPLY AND IRRIGATION SYSTEMS
VALE, SD 57788

SBA Loan Lender

FIRST NATIONAL BANK
119 N DEADWOOD AVE
FORT PIERRE, SD 57532

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

221310 - Water Supply and Irrigation Systems

Loan Approval Date

12/1/2006

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

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 loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First 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.

Related Links:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in Fort Pierre, South Dakota

SBA South Dakota Lenders