South Dakota Business Loan Issued to Family Clothing Stores Company

Want a South Dakota bank loan? This South Dakota entrepreneur got a bank loan, provided by a South Dakota bank that works with the SBA to help small business owners.

Getting a small business loan in Philip, South Dakota was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First National Bank In Philip. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
PHILIP, SD 57567

SBA Loan Lender

FIRST NATIONAL BANK IN PHILIP
103 E OAK ST
PHILIP, SD 57567

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

5/10/2006

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank In Philip that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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