Rapid City, South Dakota Lender Lends Money to Snack And Nonalcoholic Beverage Bars Company

Thinking about meeting with a Rapid City, South Dakota bank about a small business loan? Here's one South Dakota business loan, issued by a Rapid City bank, that was approved by the SBA.

Applying for an SBA loan with Black Hills Fcu worked out well for our friends at one local company in Rapid City, South Dakota. The business was able to get an SBA loan for $96,500. Sweet!

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
RAPID CITY, SD 57701

SBA Loan Lender

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

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

3/7/2005

Loan Approval Gross Amount

$96,500

Loan Approval from the SBA

Of the total $96,500 loan amount, the SBA guaranteed $82,025.

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

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

Banks in Rapid City, South Dakota

SBA Lenders in South Dakota