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January 21, 2025 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Watertown, Business Loans > Great Western Bank Watertown Business Loans > Drinking Places Loan | ||||
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How to Get SBA Loans in Lake Norden, South Dakota
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Get an SBA Loan for Drinking PlacesWith these bank loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $10,000 was given to a South Dakota entrepreneur in 2002. This company knew how to go about getting a business bank loan. Based in Lake Norden, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Great Western Bank, based in Watertown, South Dakota. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender GREAT WESTERN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 6/11/2002 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 2 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding From a Venture Capitalist Where to Get an SBA Loan in Watertown, South Dakota SBA Participating Banks in South Dakota
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