SBA Loan from Black Hills Fcu Helps Personal Services Company

An SBA loan from Black Hills Fcu 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 $10,000 loan.

Getting a small business loan in Rapid City, South Dakota was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Black Hills Fcu, operating out of Rapid City, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
RAPID CITY, SD 57701

SBA Loan Lender

BLACK HILLS FCU
2700 N PLAZA DR
RAPID CITY, SD 57702

This small 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.

SIC Code

7299 - Personal Services

NAICS Code

812199 - Personal Care Services

Loan Approval Date

6/23/2003

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Black Hills Fcu 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.

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