First Bank & Trust Gives Small Business Loan to Personal Care Services Company

South DakotaSmall business loans are available to South Dakota small business owners through the SBA. In this case, a South Dakota bank provides the loan.

Getting a small business loan in Brookings, South Dakota was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
BROOKINGS, SD 57006

SBA Loan Lender

FIRST BANK & TRUST
520 6TH ST
BROOKINGS, SD 57006

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

812199 - Personal Care Services

Loan Approval Date

10/10/2002

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 $63,000 loan. Remember, where there is a will, there is a way!

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:

Getting a Small Business Loan

SBA 7A Banks in Brookings, South Dakota

Getting an SBA Loan in South Dakota