Rapid City, South Dakota Bank Gives SBA Loan to Ophthalmic Goods Manufacturing Company

Get to know Rapid City, South Dakota banks that specialize in business loans and know how to work with entrepreneurs. First Western Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Rapid City, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Western Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OPHTHALMIC GOODS MANUFACTURING
RAPID CITY, SD 57706

SBA Loan Lender

FIRST WESTERN BANK
333 W BOULEVARD
RAPID CITY, SD 57701

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339115 - Ophthalmic Goods Manufacturing

Loan Approval Date

5/2/2002

Loan Approval Gross Amount

$94,000

Loan Approval from the SBA

Of the total $94,000 loan amount, the SBA guaranteed $84,600.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Rapid City, South Dakota

SBA Lenders in South Dakota