Service Establishment Equipment and Supplies Wholesalers Loans

With these loans for service establishment equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This service establishment equipment and supplies wholesalers loan for $150,000 was given to a South Dakota entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Piedmont, South Dakota was able to borrow $150,000 from Great Western Bank. The SBA made the loan possible by guaranteeing $127,500 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES WHOLESALERS
PIEDMONT, SD 57769

SBA Loan Lender

GREAT WESTERN BANK
14 ST. JOSEPH ST
RAPID CITY, SD 57709

This was a Low Documentation SBA loan. The SBA started this program to minimize 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421850 - Service Establishment Equipment and Supplies Wholesalers

Loan Approval Date

8/7/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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South Dakota SBA Bank Lenders