Getting an SBA Loan for Site Preparation Contractors

With these business loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $148,500 was given to a South Dakota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rapid City, South Dakota was able to borrow $148,500 from The First Western Bank Sturgis. The SBA made the loan possible by guaranteeing $126,225 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
RAPID CITY, SD 57701

SBA Loan Lender

THE FIRST WESTERN BANK STURGIS
1200 MAIN ST
STURGIS, SD 57785

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

2/2/2005

Loan Approval Gross Amount

$148,500

Loan Approval from the SBA

Of the total $148,500 loan amount, the SBA guaranteed $126,225.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The First Western Bank Sturgis had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The First Western Bank Sturgis made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Family and Friend Investors - Your First Financiers

Best Banks in Sturgis, South Dakota

Getting an SBA Loan in South Dakota