Traveler Accommodation Commercial Loans

With these commercial loans for traveler accommodation, the SBA guarantees the lender that the loan will be repaid. This traveler accommodation loan for $301,000 was given to a South Dakota entrepreneur in 2006.

Getting a small business loan in Keystone, South Dakota was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Western Bank, operating out of Hill City, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRAVELER ACCOMMODATION
KEYSTONE, SD 57751

SBA Loan Lender

FIRST WESTERN BANK
372 MAIN ST
HILL CITY, SD 57745

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721199 - Traveler Accommodation

Loan Approval Date

5/4/2006

Loan Approval Gross Amount

$301,000

Loan Approval from the SBA

Of the total $301,000 loan amount, the SBA guaranteed $225,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Western Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Equity Financing

SBA 7A Banks for Hill City, South Dakota Loans

SBA Lenders in South Dakota