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November 21, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Sioux Falls, Business Loans > First Bank & Trust Sioux Falls Business Loans > Narrow Fabric Mills Loan | ||||
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Watertown, South Dakota Bank Loan
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Narrow Fabric Mills Commercial LoansLooking for commercial loans for narrow fabric mills? Talk to a banker who works with the SBA. This $150,000 narrow fabric mills loan was issued by a South Dakota bank. This small business knew how to go about getting a business bank loan. Based in Watertown, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Bank & Trust, based in Sioux Falls, South Dakota. SBA Loan Borrower COMPANY TYPE: NARROW FABRIC MILLS SBA Loan Lender FIRST BANK & TRUST This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 313221 - Narrow Fabric Mills Loan Approval Date 7/18/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Watertown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Sioux Falls, South Dakota
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