1st National Bank & Tr Gives Small Business Loan to Plumbing And Heating Equipment And Supplies Merchant Wholesaler Company

Would a South Dakota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to South Dakota entrepreneurs.

You can learn something about getting a small business loan in Watertown, South Dakota by studying this loan to a local company, made back in 2003. Banks like 1st National Bank & Tr may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES MERCHANT WHOLESALER
WATERTOWN, SD 57201

SBA Loan Lender

1ST NATIONAL BANK & TR
101 NW 2ND ST
PIPESTONE, MN 56164

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423720 - Plumbing and Heating Equipment and Supplies Merchant Wholesaler

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank & Tr so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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