Eagle Butte, South Dakota Entrepreneur Gets a Small Business Loan

Searching for a South Dakota business loan? This South Dakota entrepreneur got a business loan, provided by a South Dakota bank that works with the SBA to help small business owners.

By giving the right information to Bankwest, Inc, this Eagle Butte, 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: PLUMBING, HEATING, AND AIR-CONDITIONING
EAGLE BUTTE, SD 57625

SBA Loan Lender

BANKWEST, INC
420 S PIERRE ST
PIERRE, SD 57501

This SBA business loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1711 - Plumbing, Heating, and Air-Conditioning

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

6/8/2005

Loan Approval Gross Amount

$172,844

Loan Approval from the SBA

Of the total $172,844 loan amount, the SBA guaranteed $129,633.

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 small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bankwest, Inc and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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