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December 4, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Emery, Business Loans > The Security State Bank Emery Business Loans > Florists Loan | ||||
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The Security State Bank
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Business Loan from The Security State Bank Given to Florists CompanyThe Security State Bank has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them. Getting a small business loan in Emery, South Dakota was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Security State Bank, operating out of Emery, South Dakota. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender THE SECURITY STATE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453110 - Florists Loan Approval Date 3/1/2002 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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 only one employee. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Security State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Emery, South Dakota
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