Entrepreneur Works With Rapid City, South Dakota Bank to Get an SBA Loan

Get to know Rapid City, South Dakota banks that specialize in SBA loans and know how to work with entrepreneurs. Black Hills Fcu is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
HILL CITY, SD 57745

SBA Loan Lender

BLACK HILLS FCU
2700 N PLAZA DR
RAPID CITY, SD 57702

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

3/16/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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

Related Links:

Small Business Credit Cards

Who Lends Money to Small Businesses in Rapid City, South Dakota

Getting a Business Loan in South Dakota