Sioux Falls, South Dakota Bank Gives SBA Loan to Excavation Work Company

Want to talk with a Sioux Falls, South Dakota bank about an SBA loan? Here's one South Dakota business loan, issued by a Sioux Falls bank, that was approved by the SBA.

Applying for an SBA loan with Cortrust Bank worked out well for our friends at one local firm in Harrisburg, South Dakota. They received an SBA loan for $258,500. Awesome!

SBA Loan Borrower

COMPANY TYPE: EXCAVATION WORK
HARRISBURG, SD 57032

SBA Loan Lender

CORTRUST BANK
2101 S MINNESOTA
SIOUX FALLS, SD 57103

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1794 - Excavation Work

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$258,500

Loan Approval from the SBA

Of the total $258,500 loan amount, the SBA guaranteed $193,875.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cortrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cortrust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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South Dakota SBA 7A Banks