Company Gets a South Dakota Bank Loan

South DakotaSBA loans are available to South Dakota entrepreneurs through the SBA. In this case, a South Dakota bank provides the loan.

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

SBA Loan Borrower

COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
MADISON, SD 57042

SBA Loan Lender

GREAT WESTERN BANK
100 N PHILLIPS
SIOUX FALLS, SD 57101

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7261 - Funeral Service and Crematories

Loan Approval Date

2/1/2000

Loan Approval Gross Amount

$176,735

Loan Approval from the SBA

Of the total $176,735 loan amount, the SBA guaranteed $132,551.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

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.

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