South Dakota SBA Loan Issued to Car Washes Company

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

This small business, based in Rapid City, South Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Black Hills Fcu. We've got the inside scoop on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
RAPID CITY, SD 57702

SBA Loan Lender

BLACK HILLS FCU
2700 N PLAZA DR
RAPID CITY, SD 57702

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

10/18/2007

Loan Approval Gross Amount

$20,400

Loan Approval from the SBA

Of the total $20,400 loan amount, the SBA guaranteed $17,340.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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Small Business Banks in Rapid City, South Dakota

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