Rapid City, South Dakota Bank Lends Money to Women's Clothing Stores Company in Rapid City, South Dakota

Get to know Rapid City, South Dakota banks that specialize in business loans and know how to work with entrepreneurs. First National 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 firm received funding from First National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
RAPID CITY, SD 57701

SBA Loan Lender

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

This loan was underwritten 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

5621 - Women's Clothing Stores

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$36,100

Loan Approval from the SBA

Of the total $36,100 loan amount, the SBA guaranteed $28,880.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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