Business Loan from First National Bank Given to Retail Nurseries, Lawn And Garden Supply Stores Company

First National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Dakota entrepreneur who tapped into the power of SBA loans.

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 First National Bank, based in Rapid City, South Dakota.

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
RAPID CITY, SD 57702

SBA Loan Lender

FIRST NATIONAL BANK
909 ST JOSEPH ST, STE 101
RAPID CITY, SD 57701

This commercial loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5261 - Retail Nurseries, Lawn and Garden Supply Stores

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

1/15/2002

Loan Approval Gross Amount

$159,750

Loan Approval from the SBA

Of the total $159,750 loan amount, the SBA guaranteed $119,813.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 First National 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:

Angel Investors

Small Bank Loans in Rapid City, South Dakota

Getting an SBA Loan in South Dakota