South Dakota Bank Loan Issued to Clothing Accessories Stores Company

Bank loans in South Dakota are hard to find these days. We take a look at one South Dakota bank loan, provided by a South Dakota bank, that was approved by the SBA.

Getting a small business loan in Yankton, South Dakota was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank So. Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
YANKTON, SD 57078

SBA Loan Lender

FIRST NATIONAL BANK SO. DAKOTA
332 BROADWAY
YANKTON, SD 57078

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

448150 - Clothing Accessories Stores

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $23,800.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business 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.

We've showcased information on this loan to let you know that businesses like yours 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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Small Business Banks in Yankton, South Dakota

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