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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 > First National Bank Rapid City Business Loans > Nursery And Tree Production Loan | ||||
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Rapid City, South Dakota Bank Loan
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Nursery and Tree Production LoansWith these loans for nursery and tree production, the SBA guarantees the lender that the loan will be repaid. This nursery and tree production loan for $92,000 was given to a South Dakota entrepreneur in 2003. 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 2003. The lending bank was First National Bank, based in Rapid City, South Dakota. SBA Loan Borrower COMPANY TYPE: NURSERY AND TREE PRODUCTION SBA Loan Lender FIRST NATIONAL 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. NAICS Code 111421 - Nursery and Tree Production Loan Approval Date 6/25/2003 Loan Approval Gross Amount $92,000 Loan Approval from the SBA Of the total $92,000 loan amount, the SBA guaranteed $78,200. 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 4 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Who Lends Money to Small Businesses in Rapid City, South Dakota
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