 |
 |
November 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Volga, Business Loans > 1st National Bank - Volga Volga Business Loans > Hardware Stores Loan | ||||
 |
||||
Banks Doing SBA Loans in South Dakota
|
||||
 |
Entrepreneur Works With Volga, South Dakota Bank to Get an SBA LoanA Volga, South Dakota small business loan can be yours. Learn how one firm got a $101,000 business loan from this South Dakota bank. This loan to a local firm is a good example of an SBA loan. 1st National Bank - Volga made the loan and the SBA guaranteed a portion of the loan. Many other South Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender 1ST NATIONAL BANK - VOLGA This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. 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 $101,000 Loan Approval from the SBA Of the total $101,000 loan amount, the SBA guaranteed $75,750. 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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Volga or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA Banks in Volga, South Dakota
|
|
||
|
||||
|
|
||||