Financing for Textile Product Mills

Looking for loans for textile product mills? Talk to a banker who works with the SBA. This $122,500 textile product mills loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yankton, South Dakota was able to borrow $122,500 from First Dakota National Bank. The SBA made the loan possible by guaranteeing $104,125 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE PRODUCT MILLS
YANKTON, SD 57078

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
225 CEDAR ST
YANKTON, SD 57078

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

11/27/2002

Loan Approval Gross Amount

$122,500

Loan Approval from the SBA

Of the total $122,500 loan amount, the SBA guaranteed $104,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $122,500 loan. Remember, things become real when you believe you can achieve them!

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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