South Dakota Bank Loan Issued to Local Trucking With Storage Company

Would a South Dakota SBA loan help your business get to the next level? If so, you may want to talk with this South Dakota bank, which offers SBA loans to South Dakota entrepreneurs.

Getting a small business loan in Rapid City, South Dakota was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Western Bank. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
RAPID CITY, SD 57703

SBA Loan Lender

FIRST WESTERN BANK
333 W BOULEVARD
RAPID CITY, SD 57701

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4214 - Local Trucking With Storage

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

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 business 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 loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Western Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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