SBA Loan from Great Western Bank Helps Family Clothing Stores Company
Great Western Bank 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.
Getting a small business loan in Chamberlain, South Dakota was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank, operating out of Chamberlain, South Dakota. Here are the details on this South Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: FAMILY CLOTHING STORES
CHAMBERLAIN, SD 57325
SBA Loan Lender
GREAT WESTERN BANK
101 E KING
CHAMBERLAIN, SD 57325
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5651 - Family Clothing Stores
NAICS Code
448140 - Family Clothing Stores
Loan Approval Date
8/18/2004
Loan Approval Gross Amount
$359,037
Loan Approval from the SBA
Of the total $359,037 loan amount, the SBA guaranteed $269,278.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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:
Attracting Investors
SBA Participating Banks in Chamberlain, South Dakota
South Dakota SBA 7A Banks