Rapid City, South Dakota Bank Gives SBA Loan to Steel Wire Drawing Company

Get to know Rapid City, South Dakota banks that specialize in business loans and know how to work with entrepreneurs. Great Western Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Rapid City, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Great Western Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: STEEL WIRE DRAWING
RAPID CITY, SD 57702

SBA Loan Lender

GREAT WESTERN BANK
14 ST. JOSEPH ST
RAPID CITY, SD 57709

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331222 - Steel Wire Drawing

Loan Approval Date

2/24/2004

Loan Approval Gross Amount

$77,000

Loan Approval from the SBA

Of the total $77,000 loan amount, the SBA guaranteed $65,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Rapid City SD, you ought to talk with a local Rapid City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rapid City businesses.

This SBA loan was for $77,000. How would you spend $77,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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