Webster, South Dakota Business Gets SBA-Guaranteed Funding from Dacotah Bank

An SBA loan from Dacotah Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Webster, South Dakota business owner got a $107,590 loan.

This business knew how to go about getting a business bank loan. Based in Webster, South Dakota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Dacotah Bank, based in Webster, South Dakota.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
WEBSTER, SD 57274

SBA Loan Lender

DACOTAH BANK
600 MAIN ST
WEBSTER, SD 57274

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

NAICS Code

444110 - Home Centers

Loan Approval Date

1/31/2001

Loan Approval Gross Amount

$107,590

Loan Approval from the SBA

Of the total $107,590 loan amount, the SBA guaranteed $91,452.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Dacotah Bank 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.

Related Links:

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Webster, South Dakota

Where to Get an SBA Loan South Dakota