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November 15, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Pierre, Business Loans > American State Bank Pierre Business Loans > Direct Property And Casualty Insurance Carriers Loan | ||||
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SBA Lender Pierre South Dakota
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Direct Property and Casualty Insurance Carriers Business LoansWith these business loans for direct property and casualty insurance carriers, the SBA guarantees the lender that the loan will be repaid. This direct property and casualty insurance carriers loan for $37,000 was given to a South Dakota entrepreneur in 2007. This small business knew how to go about getting a business bank loan. Based in Pierre, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was American State Bank, based in Pierre, South Dakota. SBA Loan Borrower COMPANY TYPE: DIRECT PROPERTY AND CASUALTY INSURANCE CARRIERS SBA Loan Lender AMERICAN STATE BANK This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 524126 - Direct Property and Casualty Insurance Carriers Loan Approval Date 12/26/2007 Loan Approval Gross Amount $37,000 Loan Approval from the SBA Of the total $37,000 loan amount, the SBA guaranteed $18,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Role of Business Plan When Raising Money SBA Banks in Pierre, South Dakota Where to Get an SBA Loan South Dakota
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