South Dakota SBA Loan Issued to Special Trade Contractors Company

Would a South Dakota small business loan help your small business to grow and prosper? If so, you may want to talk with this South Dakota bank, which offers SBA loans to South Dakota entrepreneurs.

Getting a small business loan in Lead, South Dakota was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First National Bank. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
LEAD, SD 57754

SBA Loan Lender

FIRST NATIONAL BANK
300 W MAIN ST
LEAD, SD 57754

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $55,200.

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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Lead SD, you ought to talk with a local Lead SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lead businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank and they will explain how you can get an SBA loan for your company.

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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