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November 15, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rapid City, Business Loans > First Western Bank Rapid City Business Loans > Hotels And Motels Loan | ||||
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Rapid City, South Dakota Bank for SBA Loans
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Rapid City, South Dakota Bank Lends Money to Hotels And Motels Company in Custer, South DakotaA Rapid City, South Dakota small business loan can be yours. Learn how a company got a $365,100 business loan from this South Dakota bank. This loan to an entrepreneur is a good example of an SBA loan. First Western Bank made the loan and the SBA guaranteed a portion of the loan. Many other South Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender FIRST WESTERN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721191 - Bed-and-Breakfast Inns Loan Approval Date 11/14/2000 Loan Approval Gross Amount $365,100 Loan Approval from the SBA Of the total $365,100 loan amount, the SBA guaranteed $273,825. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Rapid City, South Dakota Browse All Business Loan Sources for South Dakota
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