Tea, South Dakota Entrepreneur Gets a Small Business Loan

Would a South Dakota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this South Dakota bank, which offers SBA loans to South Dakota entrepreneurs.

Getting a small business loan in Tea, South Dakota was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TEA, SD 57064

SBA Loan Lender

GREAT WESTERN BANK
35 1ST AVE NE
WATERTOWN, SD 57201

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/10/2007

Loan Approval Gross Amount

$17,500

Loan Approval from the SBA

Of the total $17,500 loan amount, the SBA guaranteed $14,875.

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 6 employees. The SBA loan documents indicated that the borrowed money would help create 6 new jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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:

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Where to Get an SBA Loan in Watertown, South Dakota

Getting an SBA Loan in South Dakota