SBA Loan from 1st National Bank - Volga Helps Hardware Stores Company

1st National Bank - Volga has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Volga, South Dakota was able to borrow $49,000 from 1st National Bank - Volga. The SBA made the loan possible by guaranteeing $39,200 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
VOLGA, SD 57071

SBA Loan Lender

1ST NATIONAL BANK - VOLGA
303 KASAN AVE
VOLGA, SD 57071

This lender issued this particular 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

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

1/18/2000

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $39,200.

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 3 employees. This SBA loan request did not indicate that the company promised to use the funding 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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank - Volga so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA Approved Banks in Volga, South Dakota

SBA South Dakota Banks