Financing for Store Retailers

Looking for loans for store retailers? The SBA may be the answer. This $114,000 store retailers loan was issued by a South Dakota bank.

This small firm knew how to go about getting a business bank loan. Based in Rapid City, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Black Hills Fcu, based in Rapid City, South Dakota.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
RAPID CITY, SD 57701

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

10/23/2006

Loan Approval Gross Amount

$114,000

Loan Approval from the SBA

Of the total $114,000 loan amount, the SBA guaranteed $96,900.

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 9 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Black Hills Fcu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Black Hills Fcu 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:

Accountant's Role in Securing Financing

Small Business Banks in Rapid City, South Dakota

Getting an SBA Loan in South Dakota