SBA Loan from First National Bank So. Dakota Helps Tour Operators Company

An SBA loan from First National Bank So. Dakota typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Woonsocket, South Dakota business owner got a $79,800 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First National Bank So. Dakota, out of Woonsocket, South Dakota. The loan was granted and they received $79,800 to help grow their Woonsocket, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: TOUR OPERATORS
WOONSOCKET, SD 57385

SBA Loan Lender

FIRST NATIONAL BANK SO. DAKOTA
505 W 7TH ST
WOONSOCKET, SD 57385

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.

NAICS Code

561520 - Tour Operators

Loan Approval Date

3/17/2003

Loan Approval Gross Amount

$79,800

Loan Approval from the SBA

Of the total $79,800 loan amount, the SBA guaranteed $67,830.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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