Watertown, SD Entrepreneur Gets SBA Loan to Buy Maui Wowi Franchise

Borrowing money to invest in a Maui Wowi franchise? Home Federal Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maui Wowi franchise? If so, here's a 2005 SBA franchise loan that you should know about. Home Federal Bank was the lender and the entrepreneur was based in Watertown, South Dakota.

SBA Loan Borrower

COTTON SEED STUDIO
WATERTOWN, SD 57201

SBA Loan Lender

HOME FEDERAL BANK
225 S MAIN AVE
SIOUX FALLS, SD 57104

This lender issued this particular SBA small business 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

442299 - Home Furnishings Stores

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$142,000

Loan Approval from the SBA

Of the total $142,000 loan amount, the SBA guaranteed $120,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maui Wowi franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised 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?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Home Federal Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Home Federal 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:

Maui Wowi Fresh Hawaiian Blends

Find Start-Up Capital

Best Sioux Falls, South Dakota Banks for Small Business

Getting a Business Loan in South Dakota