Business Loan from Great Western Bank Given to Service Industry Machinery Company

Great Western Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Dakota entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Great Western Bank, out of Rapid City, South Dakota. The loan was granted and they received $265,985 to help grow their Sturgis, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: SERVICE INDUSTRY MACHINERY
STURGIS, SD 57785

SBA Loan Lender

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

This business loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3589 - Service Industry Machinery

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

3/22/2000

Loan Approval Gross Amount

$265,985

Loan Approval from the SBA

Of the total $265,985 loan amount, the SBA guaranteed $199,489.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, 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.

Related Links:

Bank Credit Lines

Where to Get an SBA Loan in Rapid City, South Dakota

South Dakota SBA 7A Lenders