Entrepreneur Works With Pierre, South Dakota Bank to Get an SBA Loan

Want to talk with a Pierre, South Dakota bank about an SBA loan? Here's one South Dakota business loan, issued by a Pierre bank, that was approved by the SBA.

Applying for an SBA loan with American State Bank worked out well for our friends at one local firm in Rapid City, South Dakota. The business was able to get an SBA loan for $94,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: PRECIOUS METAL JEWELRY
RAPID CITY, SD 57702

SBA Loan Lender

AMERICAN STATE BANK
700 E SIOUX
PIERRE, SD 57501

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

3911 - Precious Metal Jewelry

NAICS Code

339112 - Surgical and Medical Instrument Manufacturing

Loan Approval Date

1/5/2001

Loan Approval Gross Amount

$94,500

Loan Approval from the SBA

Of the total $94,500 loan amount, the SBA guaranteed $85,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 38 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American State 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.

Related Links:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Pierre, South Dakota

SBA Lenders in South Dakota