Loan to Buy Dollar Discount Stores Franchise Issued By State Bank Of Alcester

Borrowing money to invest in a Dollar Discount Stores franchise? State Bank Of Alcester has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dollar Discount Stores franchise is doable. In 2000, State Bank Of Alcester issued an SBA franchise loan to an entrepreneur in Vermillion, South Dakota. Because Dollar Discount Stores was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

DOLLAR DISCOUNT STORE
VERMILLION, SD 57069

SBA Loan Lender

STATE BANK OF ALCESTER
190 IOWA ST
ALCESTER, SD 57001

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dollar Discount Stores franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into State Bank Of Alcester and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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