Pierre, South Dakota Bank Lends Money to Sporting Goods Stores Company in Eagle Butte, South Dakota

Get to know Pierre, South Dakota banks that specialize in small business loans and know how to work with entrepreneurs. American State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Eagle Butte, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from American State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
EAGLE BUTTE, SD 57625

SBA Loan Lender

AMERICAN STATE BANK
700 E SIOUX
PIERRE, SD 57501

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

11/8/2006

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $43,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like American State Bank and they will explain how you can get an SBA loan for your company.

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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SBA Participating Banks in South Dakota