Growing Company Gets a South Dakota Small Business Loan

South DakotaBank loans are available to South Dakota firms through the SBA. In this case, a South Dakota bank provides the loan.

Getting a small business loan in Corona, South Dakota was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust Of Milbank. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
CORONA, SD 57227

SBA Loan Lender

FIRST BANK & TRUST OF MILBANK
215 W 4TH AVE
MILBANK, SD 57252

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

12/31/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Bank & Trust Of Milbank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Accountant's Role in Securing Financing

Good Banks for Small Business in Milbank, South Dakota

South Dakota SBA 7A Lenders