Business Loan from Pioneer Bank & Trust Given to Carpet And Upholstery Cleaning Company

Pioneer Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Dakota entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Spearfish, South Dakota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Pioneer Bank & Trust, based in Spearfish, South Dakota.

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING
SPEARFISH, SD 57783

SBA Loan Lender

PIONEER BANK & TRUST
140 E JACKSON
SPEARFISH, SD 57783

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the 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

7217 - Carpet and Upholstery Cleaning

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$35,700

Loan Approval from the SBA

Of the total $35,700 loan amount, the SBA guaranteed $30,345.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pioneer Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding From a Venture Capitalist

Good Banks for Small Business in Spearfish, South Dakota

SBA Lenders in South Dakota