Loan to Buy Dollar Discount Stores Franchise Issued By Great Western Bank

Need money to buy a Dollar Discount Stores franchise? Great Western Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dollar Discount Stores franchise is doable. In 2006, Great Western Bank issued an SBA franchise loan to an entrepreneur in Brookings, South Dakota. Because Dollar Discount Stores was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

DOLLAR DISCOUNT
BROOKINGS, SD 57006

SBA Loan Lender

GREAT WESTERN BANK
200 E 10TH ST
SIOUX FALLS, SD 57104

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

1/27/2006

Loan Approval Gross Amount

$171,799

Loan Approval from the SBA

Of the total $171,799 loan amount, the SBA guaranteed $128,849.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Dollar Discount Stores franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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