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November 15, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Custer, Business Loans > First Western Bank Custer Business Loans > Chemical And Allied Products Wholesalers Loan | ||||
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Custer, South Dakota Bank Loan
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South Dakota Business Loan Issued to Chemical And Allied Products Wholesalers CompanyBusiness loans in South Dakota are tough to come by these days. We take a look at one South Dakota business loan, provided by a South Dakota bank, that was approved by the SBA. By giving the right information to First Western Bank, this Custer, South Dakota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS WHOLESALERS SBA Loan Lender FIRST WESTERN BANK This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422690 - Chemical and Allied Products Wholesalers Loan Approval Date 9/15/2004 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $180,000. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees 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. 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 $200,000 loan. Remember, fight for what you want, and it will be yours! 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: Where to Get an SBA Loan in Custer, South Dakota
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