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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 > 1st National Bank In Sioux Falls Sioux Falls Business Loans > Computer Programming Services Loan | ||||
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1st National Bank In Sioux Falls Business Loan
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SBA Loan from 1st National Bank In Sioux Falls Helps Computer Programming Services Company1st National Bank In Sioux Falls has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them. Getting a small business loan in Vermillion, South Dakota was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank In Sioux Falls, operating out of Sioux Falls, South Dakota. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender 1ST NATIONAL BANK IN SIOUX FALLS This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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. SIC Code 7371 - Computer Programming Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 8/23/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 14 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank In Sioux Falls and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Sioux Falls, South Dakota
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