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December 19, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rapid City, Business Loans > Great Western Bank Rapid City Business Loans > Beauty Shops Loan | ||||
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Great Western Bank Small Business Loan
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Beauty Salons LoansWith these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $41,000 was given to a South Dakota entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rapid City, South Dakota was able to borrow $41,000 from Great Western Bank. The SBA made the loan possible by guaranteeing $32,800 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender GREAT WESTERN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 4/11/2000 Loan Approval Gross Amount $41,000 Loan Approval from the SBA Of the total $41,000 loan amount, the SBA guaranteed $32,800. 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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $41,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in Rapid City, South Dakota Browse All Business Loan Sources for South Dakota
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