Beresford, South Dakota Lender Lends Money to Limited-Service Restaurants Company

Find Beresford, South Dakota banks that specialize in SBA loans and know how to work with entrepreneurs. First Savings Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Alamogrodo, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ALAMOGRODO, NM 88310

SBA Loan Lender

FIRST SAVINGS BANK
201 N 3RD ST
BERESFORD, SD 57004

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$147,600

Loan Approval from the SBA

Of the total $147,600 loan amount, the SBA guaranteed $125,460.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 20 employees. The SBA loan application for the borrower did not indicate that the business planned 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?

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 $147,600 loan. Remember, anyone can do it... so why not you?

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:

504 Loans

Find an SBA Lender in Beresford, South Dakota

SBA Participating Banks in South Dakota