First Dakota National Bank SBA Loan to Services Company

An SBA loan from First Dakota National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hartford, South Dakota business owner got a $466,500 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Dakota National Bank, out of Mitchell, South Dakota. The loan was granted and they received $466,500 to help grow their Hartford, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: SERVICES
HARTFORD, SD 57106

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
500 E NORWAY
MITCHELL, SD 57301

This debt financing 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 delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8999 - Services

NAICS Code

711510 - Independent Artists, Writers, and Performers

Loan Approval Date

3/27/2003

Loan Approval Gross Amount

$466,500

Loan Approval from the SBA

Of the total $466,500 loan amount, the SBA guaranteed $349,875.

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 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Dakota National 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:

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SBA Participating Banks in Mitchell, South Dakota

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