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November 15, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Yankton, Business Loans > First Dakota National Bank Yankton Business Loans > Curves For Women Loan | ||||
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Yankton, South Dakota Bank Loan
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First Dakota National Bank Provides SBA Loan to Buy Curves For Women FranchiseNeed money to invest in a Curves For Women franchise? First Dakota National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Yankton, South Dakota needed money to invest in a Curves For Women franchise back in 2001. First Dakota National Bank issued an SBA franchise loan. Here are the details on this South Dakota small business loan. SBA Loan Borrower CURVES FOR WOMEN SBA Loan Lender FIRST DAKOTA NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 10/24/2001 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Yankton SD, you ought to talk with a local Yankton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Yankton businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Participating Banks in Yankton, South Dakota
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