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November 15, 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 > Jewelry Stores Loan | ||||
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Great Western Bank Small Business Loan
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Jewelry Stores Small Business LoansLooking for small business loans for jewelry stores? Try the SBA. This $425,000 jewelry stores loan was issued by a South Dakota bank. This company knew how to go about getting a business bank loan. Based in Rapid City, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Great Western Bank, based in Rapid City, South Dakota. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES SBA Loan Lender GREAT WESTERN BANK At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to provide 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. SIC Code 5944 - Jewelry Stores NAICS Code 448310 - Jewelry Stores Loan Approval Date 3/10/2000 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. 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 15 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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
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