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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 > Personal Care Services Loan | ||||
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Great Western Bank
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Rapid City, South Dakota Business Gets SBA-Guaranteed Funding from Great Western BankAn SBA loan from Great Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rapid City, South Dakota business owner got a $35,500 loan. This small firm knew how to go about getting a business bank loan. Based in Rapid City, South Dakota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Great Western Bank, based in Rapid City, South Dakota. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender GREAT WESTERN BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812199 - Personal Care Services Loan Approval Date 4/3/2002 Loan Approval Gross Amount $35,500 Loan Approval from the SBA Of the total $35,500 loan amount, the SBA guaranteed $30,175. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Great Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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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