Dacotah Bank Gives Bank Loan to Photographic Studios, Portrait Company

Bank loans in South Dakota are are few and far betweeen these days. We take a look at one South Dakota bank loan, provided by a South Dakota bank, that was approved by the SBA.

You can learn something about getting a small business loan in Sioux Falls, South Dakota by studying this loan to a local company, made back in 2001. Banks like Dacotah Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT
SIOUX FALLS, SD 57106

SBA Loan Lender

DACOTAH BANK
1707 S MARION RD
SIOUX FALLS, SD 57106

This lender issued this particular SBA bank 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.

SIC Code

7221 - Photographic Studios, Portrait

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

4/26/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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