Pierre, South Dakota Bank Gives SBA Loan to Coin-Operated Laundries And Drycleaning Company

Get to know Pierre, South Dakota banks that specialize in SBA 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 Ft. Pierre, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a small company 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: COIN-OPERATED LAUNDRIES AND DRYCLEANING
FT. PIERRE, SD 57532

SBA Loan Lender

AMERICAN STATE BANK
700 E SIOUX
PIERRE, SD 57501

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/14/2003

Loan Approval Gross Amount

$55,600

Loan Approval from the SBA

Of the total $55,600 loan amount, the SBA guaranteed $47,260.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from American State 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.

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