Black Hills Fcu SBA Loan to Vitreous China, Fine Earthenware, And Pottery Manufacturing Company

Black Hills Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Dakota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Box Elder, South Dakota was able to borrow $15,300 from Black Hills Fcu. The SBA made the loan possible by guaranteeing $13,005 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: VITREOUS CHINA, FINE EARTHENWARE, AND POTTERY MANUFACTURING
BOX ELDER, SD 57719

SBA Loan Lender

BLACK HILLS FCU
2700 N PLAZA DR
RAPID CITY, SD 57702

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327112 - Vitreous China, Fine Earthenware, and Pottery Manufacturing

Loan Approval Date

11/2/2004

Loan Approval Gross Amount

$15,300

Loan Approval from the SBA

Of the total $15,300 loan amount, the SBA guaranteed $13,005.

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. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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

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Where to Get an SBA Loan in Rapid City, South Dakota

Where to Get an SBA Loan South Dakota